10 Unexpected Market Movers – What Propelled Double-Digit Gains?

5. Magnite, Inc. (NASDAQ:MGNI)

Magnite Inc. extended its winning streak for a sixth straight day on Thursday, adding 19.79 percent to close at $14.89 apiece as investors gobbled up shares following an impressive earnings performance in the first quarter.

During the period, Magnite, Inc. (NASDAQ:MGNI) narrowed its net loss by 46 percent to $9.6 million from the $17.8 million registered in the same period a year earlier.

Revenues improved by 4 percent to $155.8 million from $149.3 million year-on-year.

Despite the strong performance, Magnite, Inc. (NASDAQ:MGNI) said it is taking a cautious stance on its outlook for the rest of the year amid the potential impact of the trade uncertainties on its business.

“In CTV, we continue to see strong programmatic adoption and are very pleased with the growth of Netflix and their continued rollout of programmatic globally. On the DV+ side of the business, we applaud the monumental antitrust ruling against Google. This ruling and its ensuing remedies have the potential to radically transform the open internet and create a more level playing field, which could significantly increase our monetization opportunities and market share, possibly as soon as next year,” said Magnite, Inc. (NASDAQ:MGNI) CEO Michael Barrett.