10 Stocks Investors Dumped Fast

2. AppLovin Corporation (NASDAQ:APP)

AppLovin dropped its share prices by 8.21 percent on Monday to finish at $383.60 apiece as investor sentiment was dampened by its non-inclusion in the S&P 500 rebalancing.

The drop followed earlier optimism from Bank of America and Barclays, which expected AppLovin Corporation (NASDAQ:APP) to join the S&P 500’s recent rebalancing.

The analysts expected AppLovin Corporation’s (NASDAQ:APP) inclusion in the index after meeting the criteria of at least $20.5 billion in market value and GAAP profitability over the past four quarters.

Getting included in the S&P 500 can be advantageous to stock components as it exposes them to a wider group of investors.

In the first quarter of the year, AppLovin Corporation (NASDAQ:APP) expanded its net income by 144 percent to $576 million from $236 million in the same period last year.

Revenues increased by 40 percent to $1.48 billion from $1.058 billion year-on-year.