Magnite (NASDAQ: MGNI) was created from the merger of two ad tech companies, Rubicon Project and Telaria, in April 2020. On its first day as a combined company, Magnite's stock opened at $5.47 per share.
The tech-heavy Nasdaq Composite has slipped into bear market territory, falling 30.7% from its all-time high. Ultimately, linear programming will eventually cease to exist, meaning all television ad spend will flow through CTV devices.
It can be painful to be an investor right now, but the market is offering great deals on some stocks.