AppLovin Corp APP shares are trading marginally lower Wednesday despite the stock still seeing a gain of over 36% in the past month.
What To Know: The mobile technology company’s recent rally was fueled by two major catalysts. On September 8, it was announced that AppLovin, along with Robinhood Markets Inc, will be added to the S&P 500 index, effective September 22. Inclusion in the benchmark index typically leads to increased demand from institutional investors and index funds.
Further bolstering investor confidence, BTIG analysts raised their price target on AppLovin to $664 from $547 on Monday. The firm cited the company’s accelerating expansion into non-gaming sectors like e-commerce, finance and healthcare as a key driver for the upgraded forecast, maintaining a Buy rating on the stock.
Benzinga Edge Rankings: The stock’s recent powerful rally is reflected in its Benzinga Edge momentum score, which stands at an exceptionally high 98.46.
Price Action: According to data from Benzinga Pro, APP shares are trading lower by 2.4% to $589.30 Wednesday. The stock has a 52-week high of $613.69 and a 52-week low of $120.64.
Read Also: Nio Stock Is Rising Wednesday: What’s Driving The Momentum?
How To Buy APP Stock
By now you’re likely curious about how to participate in the market for AppLovin – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
If you’re looking to bet against a company, the process is more complex. You’ll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
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