Magnite ( (MGNI) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Magnite, Inc. (MGNI) has seen a significant stock price movement due to its recent partnership announcement with Musk’s X, garnering positive views from RBC Capital. This collaboration has led to an increase in the price target from $17 to $20 by BofA, reflecting strong market confidence. The stock is trading near its 52-week high, with analysts like Jason Kreyer from Craig-Hallum maintaining a Strong Buy rating, citing the partnership as a major growth catalyst.
More about Magnite
YTD Price Performance: 27.39%
Average Trading Volume: 1,919,126
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.89B
For further insights into MGNI stock on TipRanks’ Stock Analysis page.
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