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Why AppLovin Rallied Today

TheMotleyFool

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Shares of AppLovin (NASDAQ: APP) rallied double digits on Monday, up 11.6% on the day.

AppLovin has had a strong recent run, despite a bevy of short-sellers going after the mobile game digital ad company earlier this year. Investors appear to have shrugged off or disbelieved the short thesis on the stock, however, with shares up 68.5% on the year and the company's market cap levitating to a whopping $184 billion.

The rally has enabled AppLovin to be included in the S&P 500 (SNPINDEX: ^GSPC), which was announced Friday after the close of trading.

Source Fool.com

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