10 Best NASDAQ Growth Stocks to Buy for the Next 3 Years

2. AppLovin Corporation (NASDAQ:APP)

3-Year Revenue CAGR: 22.19%

Number of Hedge Fund Holders: 96

AppLovin Corporation (NASDAQ:APP) is one of the best NASDAQ growth stocks to buy for the next 3 years. On July 1, AppLovin announced the successful completion of the sale of its mobile gaming business to Tripledot Studios.

The transaction was initially announced on May 7 and officially closed on June 30, after satisfying all customary closing conditions and regulatory requirements. Under the terms of the purchase agreement, AppLovin divested its mobile gaming business for a total consideration of $400 million in cash.

The divestiture includes 10 game studios and their popular mobile gaming franchises. The studios involved collectively develop well-known mobile games across various genres. The Co-founder and CEO of AppLovin, Adam Foroughi, stated that this transaction streamlines the company to its core business and allows a full focus on future opportunities.

AppLovin Corporation (NASDAQ:APP) builds a software-based platform for advertisers to enhance the marketing and monetization of their content in the US and internationally.