"AppLovin (APP) stock climbed Friday following a report that the advertising technology company is pursuing plans for a new social media platform."
"AppLovin was among companies that made a bid for TikTok's U.S. business last year. AppLovin's potential social network plans were first reported by Bloomberg Thursday. The report pointed to a job posting on AppLovin's website seeking a software..."
AppLovin stock rose Friday amid moves toward launching a new social media platform. The company operates in advertising technology and previously participated in a bid for TikTok's U.S. business last year. Signals of potential social network initiatives emerged this week and coincided with upward pressure on the company's shares. The combination of prior interest in TikTok and recent hiring-related signals suggests AppLovin may be positioning to expand into social networking and leverage its advertising technology capabilities to support a new platform.
Read at Investor's Business Daily
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