• The shares have come crashing down on valuation multiple contraction and economic slowdown risk, but we think most of that is priced in and the shares are cheap.
• Headline earnings and debt look bad, but GAAP figures are marred by acquisitions, the company is financially sound and generating considerable cash flow.
• Meanwhile, the company is cementing its position as the premier CTV/Video SSP in the market, benefiting from their secular growth tailwinds.
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Magnite Stock: Recession Risk Is Priced In (NASDAQ:MGNI)