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.
Does AppLovin (APP) have what it takes to be a top stock pick for momentum investors? Let's find out.
In a market that's increasingly filled with uncertainty (but has calmed down on the volatility front considerably, looking at the VIX), it's difficult to pinpoint which opportunities may seem juiciest right now.
AppLovin (APP -1.10%) has been a lightning rod for controversy recently, with three separate short sellers issuing bearish reports on the company this year. However, one billionaire investor was clearly unconvinced by the reports, making AppLovin stock the largest new position in his portfolio during the first quarter.
The Zacks Technology Services industry is poised to grow from the swift adoption of remote work and other technological advancements. APP, QFIN and PRTH are well-positioned to capitalize on the rising demand.
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.
Following a steep decline and a strong rebound, we evaluate whether APP now offers a compelling entry point for investors.
This is quite a comeback, given the stock was down over 30% through early April. AppLovin successfully leveraged its opportunity to show strength in Q1, with shares rising nearly 12% after its May 7 earnings release.
Shares of Applovin are surging thanks to strong first-quarter results and a broad tech sector rebound on the heels of cooling trade war tensions.
AppLovin (APP) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
Subscribers to Chart of the Week received this commentary on Sunday, May 11.
Here is how AppLovin (APP) and Sezzle Inc. (SEZL) have performed compared to their sector so far this year.