Shares of Magnite (NASDAQ: MGNI) fell 34.8% in November, according to data from S&P Global Market Intelligence . The programmatic digital ad buying platform delivered earnings results that missed analysts' expectations, and also warned of soft trends and difficult comparisons in the current quarter.
Adding additional pressure, high-multiple growth stocks were hurt when Federal Reserve Chairman Jerome Powell indicated the Federal Reserve may taper its bond purchases faster than expected, which would tighten financial conditions.
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Why Magnite Plunged 34.8% in November