From Yahoo Finance: 2025-05-08 17:51:00

AppLovin shares soared after selling its mobile game business for $400 million and beating Wall Street expectations. Stock broke out of falling wedge pattern, reclaimed 50-day moving average. Watch key areas at $352, $525, $940, and support at $235. Stock up 70% from recent low.

AppLovin utilizes AI-powered software for ad targeting and app monetization. The company’s strong Q1 earnings beat expectations, current quarter revenue guidance exceeded forecasts. Focus on mid-market web advertisers. Shares fell 62% due to short seller reports, but gained 12% to close at $339.51 on Thursday.

AppLovin’s stock reversed from record high in February, traded sideways near 200-day moving average. Recent breakout above falling wedge pattern and 50-day moving average signals improved momentum. Key areas to watch at $352, $525, $940, with support at $235 in pullback scenarios. Stock up 70% from recent low.

Read more: Watch These AppLovin Levels as Stock Soars After Strong Earnings, Sale of Mobile Gaming Unit