Brian Vendig, MJP Wealth Advisors CIO, joins CNBC's 'Power Lunch' to discuss three stocks.
AppLovin (APP -11.50%) investors had much to celebrate last month, as shares of the stock jumped 98.8% in November, according to data supplied by S&P Global Market Intelligence.
AppLovin's $135 billion market cap and 900% year-to-date surge through Friday's close weren't enough to earn it entry into the benchmark large-cap index.
The software company wasn't included in the stocks added to the S&P 500 index.
The S&P 500 remains slightly red on the day, but some sectors are seeing better performance.
Healthy growth since the pandemic, led by the frequent adoption of remote work and other technological advancements, should help the Zacks Technology Services industry grow. APP, DAVE, and CLMB are well-positioned to capitalize on the rising demand.
It isn't often that a stock gets a 74% price target raise from an analyst, but that's what happened to AppLovin (APP 1.44%). The next-generation adtech company, which has already been quite the torrid outperformer on the exchange, saw its share price swell across the past few days.
In the fast-moving tech space, separating companies in hypergrowth mode from ones that are just hype isn't always easy. Throw in the fact that artificial intelligence (AI) is fueling speculation in tech stocks, and things become even cloudier.
Courtney Garcia, Payne Capital Management, senior wealth advisor, joins 'Power Lunch' to discuss stock plays for three stocks.
AppLovin (APP 1.95%), a gaming and mobile advertising company, is on fire of late after delivering a mind-blowing 744% stock return to investors in the last 12 months. Comparatively, the mighty Nvidia "only" gained around 200% during the same period.
Artificial Intelligence (AI) is proving to be a game-changing technology and with it, several companies are emerging as winners in this sector of the economy. The stocks for many of these companies have already seen large gains.
Amazon.com Inc AMZN, Applovin Corp APP, Chewy, Inc CHWY and RH RH each benefitted from Cyber Monday.