Down 54%, Is AppLovin Still a Millionaire-Maker Stock?
It has lost about half its value this year.
Overview
AppLovin (NASDAQ: APP) made some opportunistic investors a lot of money over the past few years.
The tech company makes software that it sells to companies that produce apps. The software allows the developers to search for advertisers for their apps, serving as a digital auction house. AppLovin gets a fee on every ad sold. Its AI-enabled platform sets it apart from others in the space for its ability to use its algorithms to connect developers to the right ad buyers.
Details
After dropping to $10 per share at the end of 2022 following an 88% decline that year, AppLovin has posted triple-digit annual returns over the past three years. It returned 280% in 2023, it gained 703% in 2024, and last year, it was up 108%.
Source
Originally published at www.fool.com.