Why AppLovin Stock Rebounded Powerfully on Tuesday
A day after getting whacked by the market, AppLovin (NASDAQ: APP) stock staged an impressive rally on Tuesday. The mobile marketing company enjoyed a nearly 8% boost in its share price that trading session; it seems that worries about a possible regulatory action were fading. Sentiment was also helped by an analyst's bullish take on the stock.
The Monday rout was due largely to an article in Bloomberg which, citing "people familiar with the matter," stated that the Securities and Exchange Commission (SEC) had launched a probe centered on AppLovin's data collection efforts.
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Source Fool.com
