"AppLovin shares plummeted Wednesday, extending losses from Tuesday as investor concerns about AI's potential to disrupt the mobile advertising market intensified. New platforms like CloudX, which aim to automate ad operations, have raised alarms about the future of companies heavily invested in ad tech, including AppLovin. This development comes at a critical time for AppLovin, which derives a significant portion of its revenue from advertising technology."
"AppLovin stock is trading 29.9% below its 20-day simple moving average (SMA) and 36% below its 50-day SMA, indicating significant short-term weakness. Over the past 12 months, shares have increased by 5.04% and are currently positioned closer to their 52-week lows than highs. The RSI is at 30.40, which is considered neutral territory, although it's close to being oversold. The MACD is below its signal line, indicating bearish pressure on the stock."
"Applovin Corporation (NASDAQ:APP) shares are tumbling on Wednesday as fears of AI disruption weigh heavily on the software sector. The stock's decline comes following a sector-wide sell-off, adding pressure as broader markets edge lower, with the S&P 500 down 0.35%. Economic Times reports. AI Disruption Fears Send AppLovin Stock Lower AppLovin shares plummeted Wednesday, extending losses from Tuesday as investor concerns about AI's potential to disrupt the mobile advertising market intensified."
AppLovin shares are tumbling as AI disruption fears pressure the software sector and broader markets edge lower. New AI platforms like CloudX aim to automate ad operations and raise alarms for ad-tech firms. About 80% of AppLovin's revenue comes from its DSP and AppDiscovery, making AI a material threat to its business model. Technical indicators show short-term weakness: the stock trades about 29.9% below its 20-day SMA and 36% below its 50-day SMA. Momentum is mixed, with an RSI near 30.40 and a MACD below its signal line. Shares are up 5.04% over 12 months but closer to 52-week lows than highs.
Read at Benzinga
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