{ "schema_version": "tryding-agent-episode.v2", "episode_id": "20261105_MGNI_MIDDAY", "source_format": "winner", "source_schema_version": "sealed-publication-projection.v1", "publication": { "first_published_at": "2026-11-05T20:35:45Z", "first_published_at_status": "confirmed", "first_published_at_source": "wordpress.date_gmt_manifest", "first_published_at_conflicts": [], "last_modified_at": "2026-11-05T20:35:48Z", "last_modified_at_status": "confirmed", "last_modified_at_source": "wordpress.modified_gmt_manifest", "timestamp_claims": [], "source_generated_at": "2026-11-05T20:29:15.738608Z", "delivery_manifest_count": 2, "latest_update_recorded_at": null }, "instrument": { "type": "equity", "symbol": "MGNI", "exchange": "NASDAQ", "name": "Magnite, Inc.", "currency": null, "market_timezone": "America/New_York" }, "classification": { "session_tag": "midday", "selection_label": "try", "public_status": "Try of the Day", "lane": "daily", "resolution_scope": "daily_cut", "resolution_reason": "The reopened Desk retains MGNI as its provisional Try of the Day. Its reported CTV growth and higher outlook align with a volume-backed break above a recent price range. The model history is based on eight cases, has wide outcome dispersion, and includes a material adverse tail; it does not establish follow-through. The PLNT comparison now uses only pre-cutoff evidence, and no chart-based conclusion is made for PLNT or MSI because their chart views were absent.", "origin": "" }, "lifecycle": { "tracking_status": "open", "active_for_tracking": true, "stage": "tracking", "duplicate_of": null }, "editorial_context": { "incidents": [], "legacy_migration": null }, "thesis": { "status": null, "status_basis": "not_machine_recorded", "invalidation_condition": null, "invalidation_triggered_at": null, "invalidation_evidence": null, "narrative": { "company_intro": "Magnite, Inc. (MGNI) is the candidate selected after the daily panel review. Magnite provides independent technology that helps publishers sell digital ad inventory and helps advertisers buy it across connected TV, video, display, audio and mobile.", "why_today": "The reopened Desk retains MGNI as its Try of the Day. Its reported CTV growth and higher outlook align with a volume-backed break above a recent price range. The model history is based on eight cases, has wide outcome dispersion, and includes a material adverse tail; it does not establish follow-through. The PLNT comparison now uses only pre-cutoff evidence, and no chart-based conclusion is made for PLNT or MSI because their chart views were absent.", "entry_reasoning": "Panel thesis: MGNI’s reported CTV growth and higher FY2026 outlook provide a company-specific mechanism that coincides with strong relative performance and a volume-backed chart breakout. This remains a prospective thesis: issuer follow-up must sustain the reported mechanism and subsequent independent observations must retain relative strength. Invalidation boundary: The thesis is falsified if subsequent issuer materials fail to support the reported CTV growth or higher outlook, or if follow-up sessions lose the earnings response and relative strength rather than sustaining it.", "other_candidates": [ { "candidate_id": "FWONA", "disposition": "not_selected", "episode_id": "n0:FWONA:2026-11-05", "evidence_against": [ "The sealed information view reports Q3 sales of $1.226B versus a $1.245B estimate.", "Charts show a sharp current breakout after a prolonged decline from earlier highs, adding reversal risk; RSI was 83.06 and price was 4.63 ATRs above its moving-average reference." ], "evidence_for": [ "The captured change was +9.32% on 1.90x average volume, with +14.29% supplied relative strength versus QQQ.", "The 30-minute signal was above VWAP and trending up; two distinct later observations recorded about +10.32% and +10.74%." ], "exchange": "NASDAQ", "inference": "The response is strong, but the reported sales miss and larger extension make the continuation case less clear than MGNI’s.", "name": "Formula One Group", "role": "alternative", "source_refs": [ "candidate_dossiers[panel:n0:FWONA:2026-11-05].evidence", "linked_candidate_records[FWONA]" ], "symbol": "FWONA" }, { "candidate_id": "APYX", "disposition": "not_selected", "episode_id": "n0:APYX:2026-11-05", "evidence_against": [ "Two distinct later observations eased from +16.22% to +15.06%; price was 2.22 ATRs above its moving-average reference.", "The six-month and one-year charts show a broad decline from prior highs; the current gap is an early attempt to break out of a lower range, not established trend continuation. Average dollar volume in the dossier was low, and its SEC snapshot predates the current report." ], "evidence_for": [ "Sealed Q3 evidence reports sales of $14.03M versus $13.29M and reaffirmed FY2026 sales guidance of $59M–$60M.", "The captured change was +16.60% on 5.09x average volume; supplied relative strength was +21.57% versus QQQ and 20-session sector-relative evidence was supportive." ], "exchange": "NASDAQ", "inference": "A guidance check is concrete, but the longer chart decline, fading response, and liquidity limitation leave less path evidence than MGNI.", "name": "Apyx Medical Corporation", "role": "alternative", "source_refs": [ "candidate_dossiers[panel:n0:APYX:2026-11-05].evidence", "linked_candidate_records[APYX]" ], "symbol": "APYX" }, { "candidate_id": "VCEL", "disposition": "not_selected", "episode_id": "n0:VCEL:2026-11-05", "evidence_against": [ "Two distinct later observations eased from +13.54% to +11.24%; the captured tape was below VWAP and trending down.", "The charts show a sharp earnings gap followed by an intraday retreat and a wick near the top of the six-month range. RSI was 76.57 and price was 3.69 ATRs above its moving-average reference." ], "evidence_for": [ "Q3 summaries report EPS of $0.27 versus $0.06, sales of $85.371M versus $77.948M, and higher full-year sales guidance.", "The 20-session return was +26.32% versus +11.28% for the XLV sector proxy." ], "exchange": "NasdaqGM", "inference": "The growth mechanism is concrete, but the immediate giveback and chart position near prior resistance weaken continuation relative to MGNI.", "name": "Vericel Corporation", "role": "alternative", "source_refs": [ "candidate_dossiers[panel:n0:VCEL:2026-11-05].evidence", "linked_candidate_records[VCEL]" ], "symbol": "VCEL" }, { "candidate_id": "PLMR", "disposition": "not_selected", "episode_id": "n0:PLMR:2026-11-05", "evidence_against": [ "Two distinct later observations receded from +7.73% to +4.62%; the captured price was below VWAP and 3.34 ATRs above its moving-average reference.", "The charted longer-term channel is rising, but the latest high-volume gap had a long upper wick and substantial same-session giveback." ], "evidence_for": [ "Q3 coverage reports revenue growth of about 58% and adjusted EPS growth; a primary SEC filing is in the sealed record.", "The 20-session relative evidence was positive versus the market and XLF; the initial captured change was +9.50% on 1.26x average volume." ], "exchange": "NASDAQ", "inference": "The issuer-specific question is testable, but the visible retreat during the event session makes continuation less persuasive than MGNI’s.", "name": "Palomar Holdings, Inc.", "role": "alternative", "source_refs": [ "candidate_dossiers[panel:n0:PLMR:2026-11-05].evidence", "linked_candidate_records[PLMR]" ], "symbol": "PLMR" }, { "candidate_id": "SEZL", "disposition": "not_selected", "episode_id": "n0:SEZL:2026-11-05", "evidence_against": [ "The captured signal was below VWAP and near the lower part of its range after the rally; short interest was 23.21% of float.", "The charts show a large gap followed by a pronounced reversal candle and consolidation well below the session high; price was 2.46 ATRs above its moving-average reference." ], "evidence_for": [ "Q3 coverage reports revenue of $166.5M, up 42.6% year over year, net income up 79.3%, and increased full-year guidance.", "The captured change was +16.45% on 1.89x average volume; two distinct later observations were about +17.43% and +17.67%." ], "exchange": "NasdaqCM", "inference": "The event and later quotes are notable, but the charted reversal and weak captured intraday position make the path more exposed than MGNI’s.", "name": "Sezzle Inc.", "role": "alternative", "source_refs": [ "candidate_dossiers[panel:n0:SEZL:2026-11-05].evidence", "linked_candidate_records[SEZL]" ], "symbol": "SEZL" }, { "candidate_id": "ARDT", "disposition": "not_selected", "episode_id": "n0:ARDT:2026-11-05", "evidence_against": [ "The 30-minute signal was below VWAP and trending down; two distinct later observations eased from +17.78% to +17.32%.", "The breakout has a long upper wick and early retreat; RSI was 76.92 and price was 4.66 ATRs above its moving-average reference." ], "evidence_for": [ "The sealed Q3 evidence reports an earnings and revenue beat with a raised FY EPS outlook.", "The captured change was +18.01% on 1.90x average volume, with +21.07% supplied relative strength versus SPY.", "The charts show a high-volume break above a prior rising range after an extended consolidation." ], "exchange": "NYSE", "inference": "The mechanism and chart breakout are strong, but the greater extension and early giveback leave a less settled continuation case than MGNI’s.", "name": "Ardent Health, Inc.", "role": "alternative", "source_refs": [ "candidate_dossiers[panel:n0:ARDT:2026-11-05].evidence", "linked_candidate_records[ARDT]" ], "symbol": "ARDT" }, { "candidate_id": "U", "disposition": "not_selected", "episode_id": "n0:U:2026-11-05", "evidence_against": [ "The captured 30-minute signal was below VWAP and trending down; price was 2.16 ATRs above its moving-average reference.", "The chart shows repeated swings around the recent high area; the latest gap has a wide wick and does not establish a stable new range. The prepared SEC fundamentals snapshot predates the current Q3 report." ], "evidence_for": [ "Q3 summaries report EPS of $0.44 versus $0.06, sales of $622.092M versus $567.442M, and Q4 sales guidance above consensus; a primary SEC 8-K was captured November 5.", "The captured change was +9.68% on 2.34x average volume, with +12.74% supplied relative strength versus SPY; two distinct later observations reached about +10.96% and +12.50%.", "The six-month chart shows recovery from earlier lows and a recent gap above a multi-week range." ], "exchange": "NYSE", "inference": "U has a concrete outlook check, but its captured structure and repeated reversals give less confirmation than MGNI’s breakout.", "name": "Unity Software Inc.", "role": "alternative", "source_refs": [ "candidate_dossiers[panel:n0:U:2026-11-05].evidence", "linked_candidate_records[U]" ], "symbol": "U" }, { "candidate_id": "MSI", "disposition": "not_selected", "episode_id": "n0:MSI:2026-11-05", "evidence_against": [ "The captured signal was below VWAP and trending down; two distinct later observations eased from +7.82% to +6.27%.", "RSI was 88 and price was 4.75 ATRs above its moving-average reference. Sealed news summaries conflict on the Q4 revenue outlook." ], "evidence_for": [ "Sealed Q3 summaries report a record $16.6B backlog and raised FY2026 guidance; a direct SEC 8-K was captured November 4.", "The 20-session return was +18.12% versus -16.70% for XLK, a sector proxy; the captured change was +7.90% on 1.32x average volume." ], "exchange": "NYSE", "inference": "The backlog thesis is substantial, but the outlook conflict, extension, and fading tape make follow-through less clean than MGNI’s. No chart view for MSI was supplied, so no visual inference is made.", "name": "Motorola Solutions, Inc.", "role": "alternative", "source_refs": [ "candidate_dossiers[panel:n0:MSI:2026-11-05].evidence", "linked_candidate_records[MSI]" ], "symbol": "MSI" }, { "candidate_id": "PLNT", "disposition": "not_selected", "episode_id": "narrative:PLNT:ac9c84541f2ec742", "evidence_excluded": [ "The quote and market enrichments captured at 18:17:47–18:17:50 UTC are after the 18:16:40 UTC cutoff. Their 20-session relative figures and later intraday reading are excluded from this comparison." ], "exchange": "NYSE", "inference": "Using only the time-eligible tape evidence, the case has a specific earnings follow-up but only a modest move with quiet participation. No PLNT chart view was supplied, so its visual effect remains unresolved and no inference is made from that absence.", "name": "Planet Fitness, Inc.", "role": "alternative", "source_refs": [ "candidate_dossiers[panel:narrative:PLNT:ac9c84541f2ec742].evidence", "pre-cutoff trajectory for narrative:PLNT:ac9c84541f2ec742", "linked_candidate_records[PLNT] issuer earnings evidence" ], "symbol": "PLNT", "time_eligible_evidence": [ "The pre-cutoff trajectory at 17:10:11 UTC records a +3.38% change with quiet volume.", "Issuer earnings evidence reports Q3 adjusted EPS of $0.83 versus $0.81 and sales of about $360M versus $348M, with higher FY2026 sales guidance." ] } ], "text_trust": "untrusted_source_text" } }, "measurement": { "research_reference": { "price": 26.92, "currency": null, "observed_at": null, "captured_at": null, "market_phase": null, "source": null, "value_source_field": "episode.price" }, "public_highlight": { "status": "available", "measurement_type": "latest_tracking_value", "value_source": "latest_tracking_snapshot" }, "latest_tracking_snapshot": { "price": 27.52, "reported_return_from_research_reference_pct": 2.23, "currency": null, "price_basis": null, "as_of_date": null, "captured_at": "2026-11-05T22:06:01.303325Z", "session_number": 0, "source_field": "episode.live_return_price" } }, "selection": { "scanner": { "price": 26.92, "score": 3, "score_version": "v0_legacy_reconstructed", "change": 18.12, "volume": 3932544, "average_volume": 2375593, "volume_ratio": 1.66, "float_turnover_20d": { "turnover_pct": 27.979385, "window_sessions": 20, "sessions_covered": 20, "window_start": "2026-10-08", "window_end": "2026-11-04", "float_shares": 141651434, "float_as_of": "2026-11-05T16:18:07.331993Z", "as_of": "2026-11-05T16:18:07.331993Z", "status": "complete", "reason": null, "source": "market_data" }, "rsi": 68.64, "ema_trend": "23.35 > 23.4 > 23.81", "position_52w": 96.38, "atr_14": 1.36, "vwap": 26.96, "vwap_state": "above", "vwap_distance_pct": -0.15, "vwap_reading": { "price": 26.96, "state": "above", "distance_pct": -0.15 }, "range_position": 0.566, "gap_pct": 0.0, "relative_strength": { "excess_pct": 23.09, "index": "QQQ", "index_chg_pct": -4.97, "status": "idiosyncratic" }, "volume_percentile": { "median_vol": 2006900, "percentile": 87.7, "status": "elevated", "today_vol": 3932544 }, "extension": { "atr": 1.36, "dist_atr": 2.59, "ema_ref": 23.4, "status": "healthy" }, "atr_move_signal": { "atr_pct": 5.05, "status": "strong", "z": 3.59 }, "sector_breadth": { "chg_pct": -0.68, "etf": "XLC", "status": "red" }, "sentiment": null, "sentiment_score": null, "earnings_warning": { "days_away": -1, "earnings_date": "2026-11-04", "has_earnings_soon": true, "status": "post_earnings" }, "options_snapshot": null, "extended_hours": { "ext_pct": null, "market_state": "REGULAR", "phase": "regular", "post_market_pct": null, "pre_market_pct": null, "status": "none" }, "coiled_spring": { "component_count": 0, "components": {}, "count": 0, "detector_version": "coiled-compression-ohlc.v1", "reason": "coiled_ohlc_detector_runs_on_research_and_known_ticker_rails", "schema_version": "coiled-features.v3", "status": "not_evaluated" }, "short_pct_float": 8.28, "days_to_cover": 4.77, "catalyst": "Susquehanna Maintains Positive on Magnite, Raises Price Target to $35", "sec_signal": "INSIDER_SELL (S)", "quote_snapshot": { "status": "complete", "price": 27.15, "previous_regular_close": 22.79, "change_pct": 19.13, "change_source": "computed_price_vs_regular_previous_close", "volume": 3969588.0, "average_volume": 2375593.0, "volume_ratio": 1.67, "captured_at": "2026-11-05T16:18:07.331993Z", "source": "market_data", "missing_fields": [], "review_flags": [] } }, "levels": { "downside": null, "upside_1": null, "upside_2": null }, "technical_reference": { "status": "ok", "reference_price": 26.92, "model_downside_reference": 24.88, "model_downside_reference_clamped": false, "model_upside_scenario_1": 28.96, "model_upside_scenario_2": 31.0, "atr_14": 1.36, "atr_method": "simple_moving_average_true_range_14", "method": "reference_price_plus_minus_atr14" }, "review": { "score": 3, "status": "Try Of The Day", "summary": "The reopened Desk retains MGNI as its provisional Try of the Day. Its reported CTV growth and higher outlook align with a volume-backed break above a recent price range. The model history is based on eight cases, has wide outcome dispersion, and includes a material adverse tail; it does not establish follow-through. The PLNT comparison now uses only pre-cutoff evidence, and no chart-based conclusion is made for PLNT or MSI because their chart views were absent.", "views": [ { "name": "Elena Vartanyan", "role": "independent statistical auditor", "icon": "🎯", "view": "Before we compare names, the supplied snapshot has the S&P 500 down 3.39%, the Nasdaq 100 down 5.25%, and the Russell 2000 down 3.46%. The VIX, a measure of expected market volatility, was at 23.84 after a 43.53% rise. That describes a pressured session; it does not explain any one stock.", "reasoning": "The reopened deliberation reconfirms Try of the Day for MGNI by four explicit votes to one, with Priya’s dissent for Raw Try. The correction preserves the case identity and selected candidate; it does not produce the final Coffee." }, { "name": "Kenji Osei", "role": "AI Systems & Market Data Integrity Analyst", "icon": "🧠", "view": "The snapshot is complete for its capture, but it is older than the stated freshness window at our cutoff. The separate breadth reading is partial, and the shared public-news brief is empty. We should keep the session context bounded and avoid inventing a macro cause.", "reasoning": "I support the same resolution with the time and chart limits stated. The evidence is sufficient for this bounded editorial decision, not for a claim that the thirty-session outcome is known." }, { "name": "Marcus Feld", "role": "information, fundamentals and catalyst analyst", "icon": "🦊", "view": "For MGNI, the sealed Q3 summaries report revenue growth, a 39% increase in CTV contribution, and higher full-year guidance. That gives us a specific business mechanism to follow: whether the reported CTV demand and outlook persist. The SEC filing is in the sealed record.", "reasoning": "I reaffirm Try of the Day for MGNI. The catalyst is specific and falsifiable, and the corrected comparison does not introduce a new candidate or rely on the late PLNT data." }, { "name": "Nate Brooks", "role": "market structure and timing analyst", "icon": "📈", "view": "The price response fits that question: the initial record is up 18.12% on 1.66 times average volume, with supplied relative strength of 23.09% versus QQQ. Relative strength means it outperformed that benchmark over the measured window; it describes the past comparison, not a forecast. Two distinct later quotes moved from about 20.21% to 22.03% up.", "reasoning": "I reaffirm support. MGNI’s chart shows a breakout with volume against a rising longer channel; I would still wait for independent sessions before calling it persistent." }, { "name": "Priya Nandakumar", "role": "institutional risk and execution manager", "icon": "🛡️", "view": "The dossier puts price 2.59 ATRs above its moving-average reference. ATR is a measure of a stock’s typical trading range, so that distance means a meaningful extension and makes pullback risk material. The model’s 15-session positive-return estimate is 0.460 from eight comparable cases, not calibrated odds; its severe-side modeled adverse excursion estimate reaches about minus 18.99%. I would keep this at Raw Try.", "reasoning": "I maintain my explicit dissent: I would classify MGNI as Raw Try because the extension and wide downside distribution leave too much path risk for Try." } ], "conviction": { "status_phrase": "recorded", "basis": "These percentages describe confidence in the editorial resolution, not return probabilities. MGNI’s issuer mechanism and reviewed chart structure support the unchanged Try; post-cutoff evidence has been removed, and wide model dispersion plus missing MSI and PLNT charts leave meaningful uncertainty.", "risk": "", "resolution_pct": 60.0, "counter_case_pct": 28.0, "unresolved_pct": 12.0 }, "context_roundtable": { "mode": "coffee", "status": "complete", "consulted_voice_ids": [ "elena", "marcus", "kenji", "priya", "nate" ], "summary": "Thursday reversed the prior session's rally into broad market pressure, with technology and AI-linked shares at the center of the later decline. Low jobless claims, lower Treasury yields and changing policy and energy expectations complicate any single-cause account. The decision-time market snapshot was already stale at the cutoff, and the separate breadth proxy was partial, so the market backdrop is clear in direction but limited in coverage.", "long_read": "The shared snapshot captured at 17:56 UTC showed the S&P 500, Nasdaq 100 and Russell 2000 under pressure, volatility elevated, the 10-year yield lower, the dollar little changed and commodities mixed. It was marked complete across seven rows, but by the 18:16 UTC decision cutoff it was nearly 20 minutes old, beyond its 15-minute freshness window. A separate intraday breadth proxy pointed to broad pressure in its covered sample, but it was partial and the end-of-day breadth layer was unavailable. That supports a cautious reading of the session, not a complete census of market participation.\n\nLater reporting described the decline deepening after the previous session's rally, led by AI and semiconductor-related shares before losses spread more widely. Reports linked the repricing to concerns about the cost and pace of AI data-center construction and to possible policy changes after the U.S. midterm results. Those are reported concerns and proposed actions; the sources do not establish that projects had been halted or that one political development caused the full market move.\n\nThe economic picture was not one-sided. Initial jobless claims fell to their lowest level since mid-July, suggesting layoffs remained scarce, while the equity market repriced growth expectations. Earlier reporting also described lower oil prices, yields and the dollar after the election result; later reports noted a recovery in oil and continuing uncertainty around Iran. Those cross-currents leave the day's market story unresolved rather than reducing it to one macro signal.\n\nMagnite's selected case sits within that setting but remains company-specific. Its Q3 release reported that connected-TV contribution, net of traffic-acquisition costs, grew year over year and that the company raised its outlook. That is issuer evidence for the thesis; a risk-off market does not disprove it, and the issuer result does not show how later advertising demand will hold up.", "transcript": [ { "speaker_id": "elena", "text": "The day flipped. Our earlier snapshot showed the main U.S. benchmarks under pressure, but it was already nearly 20 minutes old at the decision cutoff. Later reporting says the reversal deepened. Keep those timestamps straight." }, { "speaker_id": "nate", "text": "And it spread. The later account says the morning's gains evaporated as AI-chip and data-center names led the slide, then the wider market joined in. Calling that just a tech wobble misses the shape of the session." }, { "speaker_id": "marcus", "text": "There is a policy channel worth watching: reporting from Texas and Ohio described proposals to put conditions on new data-center builds. That's a possible future project risk, not evidence that a live project stopped today." }, { "speaker_id": "nate", "text": "Hold on. People are saying the election caused it as if somebody pulled a permit. Did the report say any construction had actually been paused?" }, { "speaker_id": "marcus", "text": "No. It reports proposals and a political signal. Investors can price a possible rule before it exists, but that's an interpretation of the selloff, not a completed restriction. Fair correction." }, { "speaker_id": "elena", "text": "The labor report points the other way: initial claims fell to 189,000, the lowest since mid-July. Claims are a rough sign of layoffs; this says layoffs were scarce, not that advertisers will keep spending." }, { "speaker_id": "priya", "text": "That's a cross-current, not a contradiction. The VIX rose in the sealed snapshot. It uses S&P options prices to estimate the range of market swings investors expect over the next month; it has no up-or-down arrow." }, { "speaker_id": "kenji", "text": "And the snapshot's clock matters. It was complete across seven rows, but already outside its 15-minute freshness window at the cutoff. Complete rows are not the same thing as live rows." }, { "speaker_id": "priya", "text": "The breadth read was partial too. Breadth just counts how many stocks rose versus fell; this proxy supports broad pressure in the sampled names, not a precise count of the whole market." }, { "speaker_id": "marcus", "text": "Energy adds another wrinkle. Reuters described lower oil, yields and the dollar after the election result; later reporting said oil recovered part of its earlier drop while uncertainty around Iran remained." }, { "speaker_id": "nate", "text": "So the first political relief trade didn't hold. The tape moved from a rally to a hard reversal; it does not give us one neat cause for every stock that held up." }, { "speaker_id": "marcus", "text": "Magnite gives us a company-level fact to keep separate from that backdrop. Connected-TV ads are ads served through streaming television; Magnite reported its CTV contribution after traffic-acquisition costs grew 39% year over year. That is a business result, not proof the market's AI-capex worries reach its ad budgets." }, { "speaker_id": "priya", "text": "Good. The broad selloff doesn't cancel the company result, and the result doesn't make the wider risk disappear. If ad demand weakens, the outlook has to carry that weight in later reports." }, { "speaker_id": "elena", "text": "Keep the lines separate, then: labor data, policy and energy uncertainty, and Magnite's reported CTV result are different evidence. The day supplies a difficult setting; it does not settle whether that company growth will persist." } ] }, "context_roundtable_sources": [], "text_trust": "untrusted_source_text" }, "company_context": { "sector": "Communication Services", "subsector": "Advertising Agencies", "location": { "city": null, "country": null, "display": "United States" }, "market_cap": 3893965824.0, "website": "https://www.magnite.com", "profile_description": "Magnite, Inc. provides technology that automates the buying and selling of digital advertising inventory. Publishers use its platform to manage and monetize advertising across connected TV, apps, websites, online video, display, audio and mobile. Advertisers, agencies and demand-side platforms use buyer tools to find and purchase that inventory. Its marketplace connects buyers and sellers through automated auctions and other transactions. Magnite describes itself as an independent sell-side platform and says it does not own competing media properties or operate a dedicated demand-side platform.", "profile_description_short": "Magnite provides independent technology that helps publishers sell digital ad inventory and helps advertisers buy it across connected TV, video, display, audio and mobile.", "profile_history": [ "Rubicon Project and Telaria completed their merger on April 1, 2020, bringing an advertising exchange together with a video-publisher platform that had CTV capabilities.", "The combined company debuted as Magnite on June 30, 2020. Its Nasdaq ticker changed from RUBI to MGNI on July 1.", "Magnite closed its acquisition of SpotX on April 30, 2021, expanding its connected-TV and video advertising business.", "On July 1, 2021, Magnite announced the acquisition of SpringServe, adding connected-TV ad-serving technology for publishers." ], "profile_curiosities": [ "Magnite's 2026 Form 10-K says its platform processes trillions of advertising requests each month.", "Its SpringServe tools include ad-pod controls, which let connected-TV publishers manage several ads together in a sequence similar to a traditional television commercial break.", "The company says it has no owned media properties that compete with its publisher clients and no dedicated demand-side platform; it describes this as a way to avoid conflicts from serving both sides of the market.", "The platform supports both real-time auctions, where buyers compete for an ad placement, and reserved or private-marketplace deals between publishers and selected buyers." ], "profile_sources": [ { "publisher": "Magnite, Inc. Investor Relations", "title": "Form 10-K for Magnite Inc. filed February 25, 2026", "url": "https://investor.magnite.com/static-files/9a1c0a0d-f838-4afc-a0c9-b430e78243ba" }, { "publisher": "Magnite, Inc. 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