Going into the long weekend, it has been a good stretch for public adtech.
Publicly traded adtech stocks posted solid gains over the past five trading days following Cannes Lions.
Some of the biggest movers include:
- MNTN: +29.2% (the Walmart-Vibe deal effect)
- AppLovin: +25.5%
- Viant: +19.7%
- PubMatic: +17.1%
- Taboola: +11.8%
- Magnite: +10.8%
- Zeta: +10.0%
- The Trade Desk: +9.4%
- Nexxen: +8.8%
- DoubleVerify: +8.6%
- Perion: +7.3%
Not every name participated or benefited to the same degree. Criteo, for example, posted a more modest gain, while newly public Liftoff traded slightly lower over the period.
Why This Matters:
A five-day rally doesn’t signal a long-term trend, of course, but it’s notable that investors seem to be rewarding many of the themes that dominated conversations last week in France.
CTV remains a major growth story, with companies like MNTN, Magnite, Nexxen, and Viant continuing to pitch performance TV and measurable outcomes. (If you’ll remember, TTD rode the CTV coattails for some time.)
Similarly, companies leaning into AI and agentic advertising, including PubMatic, DV, Zeta, and Perion, have also posted strong gains as investors look for companies positioned to benefit from the next wave of adtech/ad automation.
Experts React:
Here’s one post on X that caught our attention:
Our Take:
The public adtech group has been beaten down over the past year, so it’s encouraging to see money flowing back into the space.
That said, a five-day rally is still just a five-day rally. Some of the gains likely reflect bargain hunting as much as (or maybe over) improving fundamentals. The bigger test is whether the AI and CTV stories showcased at Cannes can turn into stronger revenue growth and earnings over the next few quarters/in the second half.
AdTechRadar is owned by Chris Harihar, an EVP at Mod Op. DoubleVerify is a Mod Op client.
