Why Magnite, Inc. (MGNI) Went Up On Thursday

We recently published a list of 10 Unexpected Market Movers—What Propelled Double-Digit Gains? In this article, we are going to take a look at where Magnite, Inc. (NASDAQ:MGNI) stands against other Thursday’s top-performing stocks.

The stock market extended its winning streak on Thursday as investors cheered President Donald Trump’s trade deal framework between the United States and the United Kingdom.

Among Wall Street’s major indices, the tech-heavy Nasdaq rallied the most, up 1.07 percent, followed by the Dow Jones, up 0.62 percent, and the S&P 500, gaining 0.58 percent.

According to Trump, the Oval Office outlined a trade deal framework. While a 10-percent baseline tariff will remain for imported goods from the UK, it could be the low end of deals with future countries.

“The final details are being written up,” Trump said. “In the coming weeks, we’ll have it all very conclusive.”

Beyond the major indices, 10 firms stood out, booking double-digit gains amid a flurry of fresh developments such as optimistic revenue guidance and impressive earnings performance, among others. In this article, let us explore Thursday’s 10 top-performing stocks and detail the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.

Magnite, Inc. (NASDAQ:MGNI)

Magnite Inc. extended its winning streak for a sixth straight day on Thursday, adding 19.79 percent to close at $14.89 apiece as investors gobbled up shares following an impressive earnings performance in the first quarter.

During the period, Magnite, Inc. (NASDAQ:MGNI) narrowed its net loss by 46 percent to $9.6 million from the $17.8 million registered in the same period a year earlier.

Revenues improved by 4 percent to $155.8 million from $149.3 million year-on-year.

Despite the strong performance, Magnite, Inc. (NASDAQ:MGNI) said it is taking a cautious stance on its outlook for the rest of the year amid the potential impact of the trade uncertainties on its business.

“In CTV, we continue to see strong programmatic adoption and are very pleased with the growth of Netflix and their continued rollout of programmatic globally. On the DV+ side of the business, we applaud the monumental antitrust ruling against Google. This ruling and its ensuing remedies have the potential to radically transform the open internet and create a more level playing field, which could significantly increase our monetization opportunities and market share, possibly as soon as next year,” said Magnite, Inc. (NASDAQ:MGNI) CEO Michael Barrett.

Overall, MGNI ranks 5th on our list of Thursday’s top-performing stocks. While we acknowledge the potential of MGNI as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than MGNI but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.