Why AppLovin Stock Lost 30% in January
Shares of AppLovin (NASDAQ: APP), the volatile, mobile game-focused adtech stock, were moving lower last month as the company faced another short-seller attack, software valuations came under scrutiny due to threats from AI, and Google unleashed a new platform for AI game creation, which was seen as a threat to gaming stocks.
As a result, AppLovin stock fell sharply last month, closing January down 30%, according to data from S&P Global Market Intelligence. As the chart below shows, the stock traded lower throughout most of the month, but fell especially hard on the last day of January following the launch of Google's new Project Genie.
Source Fool.com
