Why Magnite Stock Was Falling Today

Disney appears to be downgrading its relationship with Magnite. Shares of Magnite (MGNI -10.76%), the sell-side adtech platform, were pulling back on reports that Walt Disney could stop using Magnite for its Disney Real-Time Ad Exchange, or DRAX, with some demand-side platforms (DSPs). As a result, the stock closed down 10.8% on the news. Is Magnite in trouble? At the Digiday Publishing Summit, Jamie Power, Disney's senior vice president of addressable sales, said in a presentation that Disney is no longer ...