US Market Movers & Shakers in November: APP, COIN, MSTR and More
Driven by strong performance, U.S. stock AI advertising marketing leader $AppLovin Corporation(APP)$
According to the financial report, the company's AI recommendation engine AXON drove software platform revenue, including the AppDiscovery advertising engine, to $835 million, a year-on-year increase of +66%. The logic of AI software has been successfully interpreted by AI-driven performance.
Several analysts raise AppLovin stock price target after earnings. Oppenheimer analyst Martin Yang raised the firm's price target to $480 from $260, he believes recent stock performance and accelerating momentum in e-commerce will help create multiple flywheels favorable to APP stock and underlying business momentum into 2025.
The rise of AppLovin is not an isolated case, other related stocks such as $Shopify(SHOP)$
Additionally, crypto-related stocks $Coinbase (COIN.US)$ and $MicroStrategy (MSTR.US)$ have risen by 73.49% and 59.03% respectively this month. Since Trump won the U.S. election on November 5, $Bitcoin (BTC.CC)$ has risen over 40%, and last Friday it broke through $99,000 for the first time. Crypto-related stocks have been soaring along with the bitcoin price.
Besides, MicroStrategy is accelerating its pace of Bitcoin buying by increasing the amount of convertible notes to $2.6 billion, which was upsized from a previously announced offering of $1.75 billion aggregate principal amount of notes.
As of Nov. 29, MicroStrategy and its subsidiaries held an aggregate of approximately 386,700 bitcoins. MicroStrategy's Executive Chairman, Michael Saylor, emphasized that the company will raise $42 billion over the next three years, which will be used to make additional BTC purchases.
Here are the top stock gainers and losers of November 2024. ( Picture attached below)
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