From Yahoo Finance · · 1m
Magnite Stock Surges After Google Antitrust Ruling
Magnite stock jumps 12.9% after U.S. court rules Google must open adtech markets.
In brief
Magnite stock jumps 12.9% after U.S. court rules Google must open adtech markets. Magnite stock rose 12.9% following a U.S. court ruling that requires Google to allow publishers real-time bidding access and competing ad exchanges within 60 days. Originally reported by Yahoo Finance.
Magnite Stock Surges
Shares of Magnite charged out of the gate on Thursday, soaring as much as 12.9%.
Court Ruling Impact
U.S. District Judge Leonie Brinkema rejected Google's request to sell its AdX business, requiring six years of oversight and real-time bidding access.
Wall Street Reaction
Analysts raised Magnite's price target to $43, implying 81% upside from Wednesday's closing price.
Market Implications
The ruling mandates Google allow publishers real-time bidding and competing ad exchanges within 60 days to prevent anticompetitive conduct.
Stock Performance
Magnite has more than doubled over six months, trading at 23 times earnings despite the rally.
The bottom line
Magnite stock rose 12.9% following a U.S. court ruling that requires Google to allow publishers real-time bidding access and competing ad exchanges within 60 days.
