The market has been down on Magnite Inc (MGNI) stock recently. MGNI gets a Bearish score from InvestorsObserver Stock Sentiment Indicator.
Magnite Inc has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on MGNI!
What is Stock Sentiment?
In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company.
Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down.
InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend.
Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.
What's Happening With MGNI Stock Today?
Magnite Inc (MGNI) stock is trading at $13.28 as of 10:59 AM on Friday, Jan 21, a drop of -$0.23, or -1.7% from the previous closing price of $13.51. The stock has traded between $12.45 and $13.38 so far today. Volume today is below average. So far 1,097,313 shares have traded compared to average volume of 1,894,055 shares.
More About Magnite Inc
Magnite Inc is an independent sell-side advertising platform that combines Rubicon Project'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.
Click Here to get the full Stock Report for Magnite Inc stock.