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Rubicon Project's Stock Tanked After It Says It Was Late To Header BIdding

Rubicon Project saw its stock drop more than 30% in trading on Wednesday as analyst downgrades spooked investors, according to a Business Insider report. The stock had opened at $9.50 but fell to $9.20 as of today, pre-market opening. Rubicon reported Q2 earnings on Tuesday; it has admitted it was late to jump on the header bidding bandwagon. "Header bidding essentially lets Google's ad tech rivals jump to the front of the line in the contest for ad tech slots. A report from BI Intelligence published earlier this year suggested almost 70% of publishers claim to have adopted header bidding technology, compared to almost zero two years ago. Many ad tech companies in recent months have credited header bidding for boosting their revenues," BI reported. Rubicon's header bidding product — FastLane — launched last October last year, months after other ad tech companies launched their header bidding products.

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