Shares of Magnite (NASDAQ: MGNI) climbed 12.8% higher in January, according to data provided by S&P Global Market Intelligence . The stock started the month off by falling sharply after a short-seller report. But there are still plenty of analysts who remain bullish on Magnite's opportunity, which helped reverse its early losses.
"Dubious" is the word Spruce Point Management believes best describes Magnite. In its short report, the firm said management's track record was questionable, the financial reporting has mathematical impossibilities, and it has serious accounting issues. And if these allegations weren't enough, Spruce Point says the ad tech specialist's stock is overvalued to boot.
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Here's Why Magnite Stock Climbed Almost 13% Higher in January