Why AppLovin Stock Soared Today
Shares of AppLovin Corporation (NASDAQ: APP), a marketing platform, skyrocketed today after the company reported its first-quarter financial results. Surprisingly, AppLovin missed Wall Street's consensus estimate for both its top and bottom lines and cut its revenue guidance for the full year. Investors were instead focused on the fact that AppLovin's management said that it's open to selling the company's Apps business.