10 Stocks Mirror Wall Street Downturn

8. AppLovin Corporation (NASDAQ:APP)

AppLovin Corporation (NASDAQ:APP) dropped its share prices for a third straight day, closing Thursday’s trading by 8.94 percent at $450.01 each, with analysts pointing to a blog post by Edwin Dorsey, criticizing what he touted as “low-quality” ads leading users astray.

In the blog post said to have more than 80,000 subscribers and voicing corporate misconduct, Dorsey said that APP’s rapid growth has been bolstered by “low-quality revenue growth” from advertisements that don’t give clickers what they expect.

The opinion piece came at a time when APP is enjoying surging valuations, even being one of the biggest gainers on a week-on-week basis last week, buoyed by impressive earnings performance for 2024.

In a statement, APP said net income last quarter expanded by 248 percent to $599 million from the $172 million registered in the same period a year earlier, as revenues grew 44 percent to $1.37 billion from $953 million year-on-year.

In full year 2024, net income soared 343 percent to $1.58 billion from $356 million year-on-year.

APP also expects revenues for the first quarter of the year to remain within the $1-billion level, and settle anywhere between $1.355 billion to $1.385 billion.