We recently published a list of 10 Stocks Lead Monday’s Charge Amid Market Bloodbath. In this article, we are going to take a look at where AppLovin Corporation (NASDAQ:APP) stands against other stocks that lead Monday’s charge amid market bloodbath.
The stock market kicked off the trading week in a bloodbath, erasing last week’s gains, with all major indices posting heavy losses following President Donald Trump’s confirmation that tariffs on goods from Mexico and Canada are set to take effect on Tuesday.
The tech-heavy Nasdaq posted the biggest loss, down 2.64 percent, followed by S&P at 1.76 percent, and Dow Jones at 1.48 percent.
According to Trump, there was no room left for Mexico and Canada, and his 25-percent tariff for the two countries “will start.” He also signed an additional 10-percent tariff on goods from China.
Despite the market decline, ten companies bucked an overall pessimistic sentiment, making it to the top gainers list mainly due to bullish ratings and earnings performance, among others. In this article, we have detailed the reasons behind their gains.
To come up with Monday’s top gainers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.
A close-up of a mobile device, showing an advertiser reaching out to a consumer via a software-based platform.
AppLovin Corporation (NASDAQ:APP)
AppLovin Corporation (NASDAQ:APP) recovered for the second day on Monday following eight consecutive days of battering, adding 3.56 percent to close at $337.34 apiece as investors cheered an investment bank backing AppLovin Corporation (NASDAQ:APP) against two short-sellers which claimed that APP force-fed other mobile application downloads onto a user’s device.
In its report, Benchmark believed that the allegations from Fuzzy Panda and Culper Research were based on speculation, mischaracterization, and misinformation. It said that APP followed regulations, created real advertising value, and delivered financial transparency to its customers.
It also accused Fuzzy Panda and Culper Research of being interested in profiting on downturns in APP stock, and that APP does not seek to obtain fraudulent clicks.
Benchmark gave a “buy” rating and a $525 price target on APP.
Overall, APP ranks 9th on our list of stocks that lead Monday’s charge amid market bloodbath. 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 more promising than APP but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.