Sony cited “the challenging economic environment, including high inflation and fluctuating exchange rates” as the reason behind its move.
Morgan Stanley’s optimism toward AppLovin is due to its consistent in-app advertising market outperformance since 2023 as superior technology drives superior returns for advertisers.
Shares of the well-known meme stock rose 3.4% on Monday and gained another 1.7% in after-hours trading. They gained 11.3% in the previous session.
The company disclosed that Ryan Cohen had bought 500,000 shares at $21.55 a piece, lifting the company’s stock price during after-market hours.
Wedbush said GameStop’s $1.3 billion debt offering might not get enough investor participation.
Shares fell 22% a day after the company said it would raise $1.3 billion by issuing convertible bonds and use the proceeds to buy the cryptocurrency.
Wedbush said its agency checks revealed that the company’s e-commerce customers were 55%-60% net new to the brand.
nvestors, who expect the Bitcoin reserves to link GameStop stock to the crypto asset's price and potentially boost shares, pushed GME shares 12% higher. However, the rally did not hold.
Take-Two Interactive Software has notably outpaced other gaming stocks in the recent months and analysts remain strongly bullish on the stock’s prospects.
AppLovin shares climbed over 712% in 2024, and gained further ground following its fourth-quarter results released on Feb. 13.