Why AppLovin Corp. (APP) Went Up On Tuesday?

We recently published a list of 10 Firms Outperform Broader Market on Tuesday. In this article, we are going to take a look at where AppLovin Corp. (NASDAQ:APP) stands against other firms that outperform broader market on Tuesday.

The stock market finished mixed on Tuesday, with the Dow Jones the sole loser with a marginal 0.03-percent dip, as investors awaited clarity on President Donald Trump’s new tariff rollout.

The tech-heavy Nasdaq ended 0.87 percent higher, while the S&P 500 grew 0.38 percent.

Meanwhile, 10 individual stocks outperformed the bellwether indices, finishing the day in the green amid a flurry of fresh corporate developments that boosted investor appetite.

In this article, we named Tuesday’s top performers and detailed the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5 million in trading volume.

A close-up of a mobile device, showing an advertiser reaching out to a consumer via a software-based platform.

AppLovin Corp. (NASDAQ:APP)

AppLovin saw its share prices rise by 6.69 percent on Tuesday to end at $282.7 apiece as investors cheered the company’s reassurance of best business practices, debunking allegations from Muddy Waters that it might be extracting proprietary IDs from major social media platforms, a violation of data privacy laws and could lead to deplatforming.

According to APP, it hired Quinn Emanuel Firm to conduct an independent review and investigation into Muddy Waters’ allegations.

“We are fully committed to defending the Company, its operations, and its reputation from those seeking to manipulate the market through false narratives,” said APP CEO Adam Foroughi. “We will take all necessary steps to ensure the facts are known and to protect our employees, stockholders, and partners.”

Overall, APP ranks 8th on our list of firms that outperform broader market on Tuesday. While we acknowledge the potential of APP as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as APP but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.