AppLovin ( (APP) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
AppLovin’s stock has taken a significant hit due to a shareholder class action lawsuit accusing the company of misleading investors about its AXON 2.0 ad technology and engaging in deceptive practices. These allegations include exploiting Meta’s data and using a ‘backdoor installation scheme’ to inflate app installs and profits. Despite this turmoil, some analysts remain hopeful about AppLovin’s prospects, citing potential growth in AI-driven ad targeting, e-commerce, and non-gaming ad inventory. The stock has been added to Benchmark’s ‘Top Ideas List,’ with analysts noting potential in its buyback program and expanded revenue streams. However, the lawsuit and market pressures continue to negatively impact the stock’s performance.
More about AppLovin
YTD Price Performance: -24.04%
Average Trading Volume: 6,585,246
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $108.1B
For further insights into APP stock on TipRanks’ Stock Analysis page.
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