Applovin- A Recent IPO To Watch
Recent IPO, Applovin, is a stock that has been on my radar for the last few weeks. I always like to screen for recent IPOs, as they have the potential for rapid price advances as the market loves new products and services. For those not familiar with this company, they specialize in helping mobile app developers publish, market, and profit off their creations. Applovin, ticker symbol $APP, provides everything someone would need to connect with new users and grow their business. In our increasingly mobile dependent world, I believe this is a product that has enormous potential for growth in 2021. With four quarters of accelerating sales, clearly something good is going on with Applovin.
From a technical perspective, APP has built quite an impressive chart since its' first day of trading in mid-April. The weekly chart is rounding out really well, with tight closes near the lows around $55 and most recently around $75. This is something I always like to look for, as it often signifies a large fund is coming in to support the stock at a particular price level.
A study by Investors' Business Daily found that IPO bases offer the largest potential for massive gains. Most recently, we have seen strong action in other recent IPOs such as SKYT, ZIM, UPST, SEMR, NGMS, and RBLX. This indicates appetite for growth stocks may be turning on. I currently have a half position in APP. I will be looking to add more shares should APP breakout to a new high on volume above the $75 level.
To learn more about swing trading and trading in general, visit my course page.
Full Disclosure: I currently own SKYT, RBLX, UPST, and APP.
Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.