Down 55% From Its High, Is AppLovin Stock a Good Buy Right Now?
Tech stock AppLovin (NASDAQ: APP) hit a 52-week high of $525.15 on Feb. 13. It's staggering just how quickly things have unraveled for this once red-hot growth stock. On Monday, it closed at just $238.08 -- down 55% from that high it reached around a month ago.The stock market hasn't been doing all that well of late amid growing concerns of trade wars and tariffs, but that's not the only reason AppLovin stock is down. A recent short-seller report questioned the viability of its business model, and its high valuation has also made it vulnerable to a hefty decline.But with the stock taking a considerable beating over the past few weeks, could now a great time to buy shares of AppLovin, or should investors hold off on buying into this tailspin?Continue reading
Tech stock AppLovin (NASDAQ: APP) hit a 52-week high of $525.15 on Feb. 13. It's staggering just how quickly things have unraveled for this once red-hot growth stock. On Monday, it closed at just $238.08 -- down 55% from that high it reached around a month ago.
The stock market hasn't been doing all that well of late amid growing concerns of trade wars and tariffs, but that's not the only reason AppLovin stock is down. A recent short-seller report questioned the viability of its business model, and its high valuation has also made it vulnerable to a hefty decline.
But with the stock taking a considerable beating over the past few weeks, could now a great time to buy shares of AppLovin, or should investors hold off on buying into this tailspin?
