Magnite Inc. (MGNI) Social Stream

Magnite Inc. (MGNI): $12.23

0.21 (+1.75%)

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#16 of 18

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Featured Post From StockTwits About MGNI

Holding, pissed, may need to switch back into rage-buying mode like last summer, before the great lift-off. But there's nothing to like about this chart. CMF, the only indicator that matters, tells the story.

ER was great, no worries there. Merger synergies are already apparent. So too were ERs for APPS and TTD. But price action is king, always.

Important note, though: sector rotation -- which is clearly what's occurring, ie. NOT MGNI-specific -- is a sign of healthy bull markets with increasing breadth and strength. It's no accident that APPS and TTD are similarly weak.

Also important: stock is still under accumulation. All year long, Wall Street has wanted cheap tech. When they get enough of it, from you, the selling will stop. Just more algo-risk-off bullsh*t, same as last week. Conviction undimmed, but pissed, for sure.

ponderevo, published August 16, 2021

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