Here's Why AppLovin Stock Was Up 713% in 2024

Shares of app monetization company AppLovin (NASDAQ: APP) rose by 712.6% in 2024, according to data provided by S&P Global Market Intelligence. Moves of that magnitude aren't unprecedented, but they're more common among small companies. By contrast, AppLovin started 2024 at a roughly $13 billion market capitalization and surpassed a $100 billion valuation by the end of the year. It was and remains a large-cap stock, making that greater-than-700% gain even more impressive.AppLovin's biggest gains came after it reported results for 2023's fourth quarter on Feb. 14 and after it reported results for 2024's third quarter on Nov. 6.Here's the context: In early 2023, AppLovin released a new version of its software called Max 2.0, which was powered by artificial intelligence (AI). Naturally, it took some time for it to gain momentum. But coming out of 2023, AppLovin's revenue growth was clearly skyrocketing. The February 2024 report revealed that in Q4 2023, revenue rose 36% year over year.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool