"After AppLovin Corp.'s ( NASDAQ: APP) share price tumbled more than 35% early last year due to a pending class action lawsuit and to short seller reports, the software company's better-than-expected quarterly reports helped the stock recover. Shares hit a new high of $745.61 a piece in September and took another run at that high in late December. AppLovin stock easily outperformed the S&P 500 and the Nasdaq last year."
"Since the company went public in 2021, its share price is 963% higher. This has clearly been a top growth stock that investors have benefited from owning in recent years. AppLovin has been among the top tech stocks seeing a lot of love from the market, but is that still true? These days, the company focuses on providing software solutions that enhance the marketing and monetization of online advertisers. With AppLovin, there are certainly catalysts worth considering, and we'll get to those shortly."
AppLovin shares fell over 35% early last year amid a pending class action lawsuit and short-seller reports, then recovered after better-than-expected quarterly results. Shares reached a new high of $745.61 in September and attempted that high again in December, outperforming the S&P 500 and Nasdaq. Since the 2021 IPO, the share price has risen 963%, marking it as a notable growth stock despite a prior drawdown exceeding 90% from its post-pandemic peak. The company focuses on software to improve marketing and monetization for online advertisers. Analysts have expressed caution, though some firms maintained buy ratings, and AI-driven catalysts were introduced as key drivers.
Read at 24/7 Wall St.
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