US Market Movers & Shakers in November: APP, COIN, MSTR and More
Driven by strong performance, U.S. stock AI advertising marketing leader $Applovin (APP.US)$'s stock surged 46% on the day of its Q3 earnings report, with a monthly gain in November of up to 93%.
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 $Shopify (SHOP.US)$, $Palantir (PLTR.US)$, and $Snowflake (SNOW.US)$ also achieved good gains this month.
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.
Source: The Fly, The Street
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
Moomoo News Official Account
Follow the top news of US market!
53KFollowers
7Following
28KVisitors
Follow
104088143 : How to
104088143 : How to