MGNI is trading 6% up today at $18.36 after Walmart Connect named the company as a new ad tech and supply-side partner for its expanding offsite retail media platform.
- Walmart is ending its exclusive arrangement with The Trade Desk, opening its first-party audience data and CTV inventory to Magnite.
- Analysts view the partnership as a significant driver for incremental growth and a positive catalyst for the company's CTV and commerce media positioning.