"According to Bloomberg, AppLovin is now preparing to develop a social platform from scratch, a move that comes after its unsuccessful attempt last year to acquire TikTok's operations outside China. The plan was reportedly discussed by a senior executive during a Chinese‑language podcast and echoed in a job listing seeking someone to "architect the digital backbone of our next‑generation social platform.""
"If successful, the shift could give the Palo Alto‑based company far more control over user data and the broader mobile advertising ecosystem. It would also place AppLovin in direct competition with major social platforms such as Meta, TikTok and Snap. A job posting for a Singapore‑based backend engineer outlines the ambition: building a system capable of media delivery, real‑time social interactions and content discovery."
"Applovin is currently trading below its key moving averages, which suggests a bearish sentiment in the market. With the 20-day SMA at $464.25 and the stock trading 13.3% below this level, traders should be cautious as this indicates a struggle to regain upward momentum. The RSI is currently at 38.59, which is considered neutral but leans towards oversold territory. This level suggests that while the stock isn't in a strong downward trend, there may be limited buying pressure."
AppLovin is preparing to develop a social platform from scratch following an unsuccessful attempt last year to acquire TikTok's operations outside China. A senior executive reportedly discussed the plan on a Chinese‑language podcast and a job listing seeks someone to "architect the digital backbone of our next‑generation social platform." The move would give the Palo Alto‑based company greater control over user data and the mobile advertising ecosystem and would put AppLovin in competition with Meta, TikTok and Snap. A Singapore backend engineer posting describes building media delivery, real‑time social interactions and content discovery. The stock trades below key moving averages with subdued technical indicators.
Read at Benzinga
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