AppLovin stock drops after Evercore’s new “Outperform” call — what to watch before Thursday
AppLovin shares fell 7.6% to $617.65 in after-hours trading Wednesday, despite Evercore ISI initiating coverage with an Outperform rating and an $835 price target. The drop came amid a broader tech sell-off and ahead of the company’s Feb. 11 earnings report, which investors see as a test of ad demand beyond mobile gaming.