Is Magnite Headed for a Breakdown?
StockNews
Published Oct 27, 2021 09:55AM ET
Is Magnite Headed for a Breakdown?
A support line has formed in the chart of Magnite Inc. (MGNI). If the stock falls through this level of support, a breakdown is expected. Read more to learn how to take advantage of this trade.Magnite Inc. (MGNI) is an independent sell-side advertising platform that combines Rubicon Project (NASDAQ:MGNI)'s programmatic expertise with Telaria's leadership in CTV. The company provides a technology solution to automate the purchase and sale of digital advertising inventory.
The company is considered the largest independent ad platform for video content producers looking to monetize their work. MGNI should continue to benefit from the growth of online video. However, branded advertising could see some disruption from supply chain challenges.
The company has a current ratio of 1.2, indicating it has more than enough liquidity to handle short-term liquidity. Sales have grown an average of 40.5% per year over the past three years. Analysts expect revenue to rise 89.8% for the year.
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