AppLovin's share price reached $525.15 in February then fell over 35% following a pending class action lawsuit and short-seller reports, before rebounding after a stronger-than-expected first-quarter report. The stock is 16.9% higher than 90 days ago and 360.7% higher than a year ago, significantly outperforming major indexes. Since its 2021 IPO, the stock is up 621.9%. The company provides software to improve marketing and monetization for online advertisers and benefits from secular growth trends. Retail investor demand remains strong, but analysts have issued warnings and J.P. Morgan maintains a Neutral rating.
After hitting an all-time high of $525.15 in February, AppLovin Corp.'s ( NASDAQ: APP) share price tumbled more than 35% due to a pending class action lawsuit and to short seller reports. However, the software company's better-than-expected first-quarter report gave the stock a boost. The share price is now 16.9% higher than 90 days ago, despite retreating 4.5% in the past week. Compared to a year ago, AppLovin stock is 360.7% higher, far outperforming the S&P 500 and the Nasdaq in that time.
These days, the company focuses on providing software solutions that enhance the marketing and monetization of online advertisers. With AppLovin, there are certainly catalysts worth considering, and we'll get to those shortly. It continues to benefit from the strong secular growth trends that investors are seeking increased exposure to. As investors continue to pile into such stocks, retail investors appear eager to gain outsized exposure in anticipation of a continued boom.
Collection
[
|
...
]