AppLovin Corporation (NASDAQ: APP) has seen its stock skyrocket 126.3% year to date. This impressive rise has significantly outpaced the 21.3% rally of the industry it belongs to and the 18.1% growth of the Zacks S&P 500 composite.
Compared with its competitors in the in-game mobile advertising space, APP's performance is notably stronger. Alphabet Inc. has surged 18.6%, and Meta Platforms has gained 49.2% over the same period.
Year-to-Date Price Performance
Image Source: Zacks Investment Research
As of the last trading session, the stock closed at $90.2, close to its 52-week high of $92.5. APP is trading above its 50-day moving average, indicating a bearish sentiment among investors.
APP Stock Trades Above 50-Day Average
Image Source: Zacks Investment Research
APP Recovering After a Mid-Year Correction
Despite the significant year-to-date rally, APP's growth has been more modest in the past few months. Over the past three months, the stock is up just 10%, and it has gained 16% in ...
