Disney executive indicated a shift away from using Magnite to Google and The Trade Desk, causing a drop.

From Nasdaq: 2024-10-03 19:46:00

During a digital media conference, a Disney executive suggested the company no longer uses Magnite but instead works with Google and The Trade Desk. Despite pushback from analysts and reaffirmations of Magnite’s relevance, the stock price dropped by almost 11%. Investors continue to react to the news. Analysts suggest offering clarity to calm market concerns.

Analysts rushed to defend Magnite, emphasizing its continued importance to Disney despite the executive’s remarks. However, this did not stop the stock’s decline. While analysts argue for Magnite’s value, investors are reacting to the uncertain news. The company may benefit from clarifying the situation to reassure investors and stabilize its stock price.

Before investing in Magnite, consider recent developments and market reactions. The Motley Fool’s analyst team did not include Magnite in its list of top 10 stocks for investors to buy. Stock Advisor service provides valuable guidance for investors seeking high return opportunities, with past picks like Nvidia generating significant profits. Evaluate all options carefully before making investment decisions.

It is important to note that Suzanne Frey of Alphabet serves on The Motley Fool’s board of directors. The Motley Fool holds positions in Alphabet, The Trade Desk, and Walt Disney and recommends Magnite. Consider all disclosed information and seek professional advice before making investment decisions. The expressed views and opinions are solely the author’s and do not necessarily align with those of Nasdaq, Inc.



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