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  "documentTitle": "Magnite, Inc. (MGNI)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-01-07 00:00:00",
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  "notes": "The slide uses a table to contrast current market sentiment (analyst targets) with the activist's bearish thesis.",
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      "text": "We believe Magnite’s shares represent an incredibly poor risk / reward. The current sell-side consensus price is $21.71 which is ~20% below the current price.",
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      "text": "downside: -20%",
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      "text": "We believe Magnite's shares represent an incredibly poor risk / reward. The current sell-side consensus price is $21.71 which is ~20% below the current price. Recent retail enthusiasm over Needham's price target increase has catapulted shares to a nosebleed valuation, and in our view, leave the stock price susceptible to future disappointment.",
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      "kind": "source-note",
      "text": "Source: Bloomberg",
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      "text": "1) Downside based on $27.30 share price",
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      "text": "Analyst, Recommendation, Current Price Target table",
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      "kind": "title",
      "text": "Poor Risk / Reward",
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      "arcName": "Overcoming the Monster",
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      "evidence": "Slides 31-54 present the 'victory' of Spruce Point's thesis, with a clear conclusion of significant downside risk for Magnite (MGNI).",
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