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NEW YORK, Jan. 7, 2021 /PRNewswire/ Spruce Point Capital Management, LLC ( Spruce Point or we or us ), a New York-based investment management firm that focuses on forensic research and short-selling, today issued a detailed and expansive report entitled A Repellent Investment that outlines why shares of Magnite, Inc. (NASDAQ: MGNI) ( Magnite or the Company ) face up to 50% downside risk to under $14 per share. The full report can be downloaded and viewed at www.sprucepointcap.com. Follow us on Twitter @sprucepointcap for additional information and exclusive updates.
Magnite was formed in early 2020 following the merger of two advertising technology companies: Telaria Inc. ( Telaria , formerly Tremor Video) and The Rubicon Project, Inc. ( Rubicon ). The merger was predicated upon cost savings – instead of revenue synergies – and to the anticipated scaling of a Connected TV ( CTV ) product, which Rubicon could not build alone.
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