AppLovin (APP) — which provides developers with tools for analytics, advertising technology, and monetization — has enjoyed a strong recent run despite facing a wave of short sellers earlier this year. Investors now appear to have dismissed the short thesis, driving confidence in APP stock.
Shares of APP are up roughly 76% year-to-date (YTD). On Sept. 8, the stock surged nearly 12% in a single day. The rally comes as AppLovin, along with Robinhood Markets (HOOD) and Emcor (EME), is set to join the S&P 500 Index ($SPX) during the index’s next rebalancing on Sept. 22, before markets opens.
