AppLovin ( (APP) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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AppLovin’s stock took a hit, falling 11%, after short-seller Edwin Dorsey accused the company of advertising fraud in his ‘Bear Cave’ newsletter. He alleged that the company’s growth was fueled by deceptive ads, which led to the sharp decline amidst a market pullback. Despite this, Loop Capital and Citi raised their price targets for AppLovin, highlighting positive feedback from advertisers and strong 2024 performance. Citi noted a minor risk from Unity’s new advertising solution but downplayed its impact. However, insider sentiment has worsened, with more insiders selling shares.
More about AppLovin
YTD Price Performance: 44.59%
Average Trading Volume: 5,451,710
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $168.7B
For further insights into APP stock on TipRanks’ Stock Analysis page.
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