Bull&Bear | AppLovin Soars 46% Amid Strong Q3 Results; Digital Turbine Plummets 45%
1min read In the realm of bullish stocks, AppLovin (APP) witnessed a significant surge of 46.27%, marking its third consecutive day of gains. This impressive rally has resulted in a cumulative three-day increase of 54.94%. AppLovin's financial performance for the third quarter of 2024 surpassed expectations, with a net profit per share of $1.25, exceeding the anticipated $0.94. The company's sales also exceeded forecasts, reporting $1.198 billion against the predicted $1.131 billion. Subsequently, BTIG raised AppLovin's target stock price from $202.00 per share to $291.00 per share, maintaining a buy rating.
Destiny Tech100 (DXYZ) experienced a remarkable increase, climbing 39.71% over three consecutive days, with a three-day gain totaling 103.48%. The stock saw a temporary suspension due to its price surge of 42.35%.
SKK (SKK) saw a 36.55% rise, marking its fourth consecutive day of increases, with a cumulative four-day gain of 44.07%. This surge occurred following SKK's initial public offering on the NASDAQ, where the opening trade price exceeded the IPO price.
Faro Technologies (FARO) enjoyed a 36.48% increase, its stock consistently climbing for five days, totaling a 46.52% gain over this period. The rise followed the announcement of better-than-expected third-quarter financial results and the release of an upbeat adjusted earnings per share guidance for the fourth quarter.
Meanwhile, Wolverine Worldwide (WWW) gained 35.83%, with a consecutive two-day increase totaling 40.74%. This growth coincided with Chaco's launch of the new CushZ sandals, designed with lightweight comfort as a priority.
On the bearish side, Digital Turbine (APPS) faced a significant decline of 44.75%, continuing its downtrend for two days, resulting in a total two-day decrease of 44.92%. Macquarie maintained a neutral rating on Digital Turbine, reducing its target price to $2.
Wolfspeed (WOLF) experienced a sharp decline of 39.33%, driven by the announcement of substantial losses.
Dentsply Sirona Inc. (XRAY) saw its stock plummet by 28.02%. The company's third-quarter 2024 earnings conference revealed underperformance compared to expectations, sparking investor caution about its future challenges and strategic outlook, leading to a significant drop in its stock price.
CuriosityStream (CURI) witnessed a drop of 26.62% after reporting a third-quarter financial performance that fell short of expectations. Moreover, the company's fourth-quarter revenue guidance also came in below forecasts.
Clear Secure's stock closed lower following the announcement of lower-than-expected third-quarter earnings per share.
