Long Position on APP @ $74.00 on 9/24/2021 (Momentum)

AppLovin Corporation (APP) engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps worldwide. 

The company's software solutions include AppDiscovery, a solution to automate, optimize, and manage user acquisition investments for business clients; and MAX, an in-app bidding solution that optimizes purchases of app ad inventory.

Its business clients include various advertisers, internet platforms, and others.

On August 11th, Applovin  reported 2nd Quarter June 2021 earnings of $0.04 per share on revenue of $668.8 million. The consensus earnings estimate was $0.05 per share on revenue of $640.5 million.

The company said it remains confident in its previous guidance for 2021 revenue of $2.65 billion to $2.70 billion. The current consensus revenue estimate is $2.68 billion for the year ending December 31, 2021.

Shares are heading higher in a "double bottom" formation. Higher share prices are expected.

Entry Point: $77.00

Trading Range: $49.41 to $90.03

Stop Loss: $74.00

Target Price: $84.70

Position closed on 10/12/2021 at price of $87.18 with a 17.81% gain in 18 days.

Back to Portfolio