Shares of digital advertising software firm Magnite (NASDAQ: MGNI) have been clobbered in recent months and are now trading at less than half their all-time high back in February. However, though Magnite has been caught up in the tech stock sell-off this spring, long-term shareholders still have lots to be happy about. The stock is still up 333% over the last trailing 12-month stretch as of this writing.
As great a run as it has been, there's still plenty of potential here as the digital advertising industry continues to grow -- especially connected TV (CTV) as marketers migrate over to the myriad of new streaming platforms that have come online the last couple of years. With a great start to 2021, Magnite looks like a buy again.
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For further details see:
3 Reasons Magnite Stock Is a Buy After Q1 2021 Earnings