AppLovin (NASDAQ: APP), one of the hottest stocks in the market in 2024, just had another fantastic quarter. In the two days following the stock's Feb. 12 earnings release, shares spiked 34%. As of the Feb. 14 close, the tech stock’s return over the past 52 weeks is nearly 1000%. So, what’s to make of this skyrocketing stock? Is there still significant room to run, or is its value maxing out? I’ll break down what’s allowed the stock to perform so well and give my outlook on this name.
