AppLovin's stock has dropped nearly 30% over a week due to serious allegations of manipulation and fraud levied by short sellers. Top analyst Martin Yang from Oppenheimer recommends treating this dip as a buying opportunity, reiterating a $560 price target. He expressed confidence in AppLovin's long-term potential and dismissed the recent claims from short sellers, highlighting that the company's fundamentals remain strong. Despite the decline, APP stock has performed impressively in the past year, maintaining a consensus Strong Buy rating among Wall Street analysts.
Martin Yang, a top five-star rated analyst at Oppenheimer (OPY), states that the recent decline in APP's stock offers a compelling buying opportunity for long-term investors.
Yang reiterated his Buy-equivalent Outperform rating on APP stock, indicating confidence in its recovery potential despite severe allegations from short sellers.
Accusations from short sellers, including claims of advertising fraud and manipulation by AppLovin, have significantly impacted APP stock, reducing its value by 30% over a week.
Despite the recent hit, APP stock has shown robust growth, still up nearly 460% over the past 12 months, illustrating its potential for recovery.
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