Jim Cramer Remembers COVID-19 & Discusses These 11 Stocks

4. AppLovin Corporation (NASDAQ:APP)

Number of Hedge Fund Holders In Q4 2024: 95

AppLovin Corporation (NASDAQ:APP) is one of the more unique software companies in the industry. It allows businesses to run their advertisements in video games and other non-linear mediums. As a result, AppLovin Corporation (NASDAQ:APP) benefits from the growth in users shifting to video games and other digital entertainment mediums. The firm’s shares are up by 653% over the past year primarily on the back of a massive 73% gain in November which saw it grow Q3 net income by a whopping 300% to $434 million. However, AppLovin Corporation (NASDAQ:APP)’s shares dipped by 18% after an investment letter warned that its growth was based on low-quality revenue. Here is what Cramer said:

[on META, APP, RDDT, NFLX, SPOT’s strong performance] “These are favorites, they’re long favorites. They’ve also been embraced by retail. Now some of them did not have a quarter that people wanted. . . But Applovin was spectacular, more than eight hundred [inaudible], I mean they’re like doing incredibly well. Anything that had been up huge, really got clipped yesterday.”