Jim Cramer’s 19 Stock Q1 Recap: S&P 500 Winners vs. Nasdaq 100’s Worst Performers

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11. AppLovin Corporation (NASDAQ:APP)

AppLovin Corporation (NASDAQ:APP) is among the stocks in focus as Jim Cramer reviewed the S&P 500’s top performers and the Nasdaq 100’s biggest laggards for the first quarter. Cramer explained why the stock fell off despite it being a good business. The Mad Money host commented:

Second-worst performer, wow, much-loved company AppLovin, down almost 41%. This is a former market darling, which helps mobile game developers and other digital businesses to grow their reach and monetize their platforms through advertising. Had the business to itself. It’s honestly, it is a very fine business, by the way, with fantastic growth, impressive profitability. But the stock got really expensive. Entering this year, it was selling for more than 45 times earnings. That left the stock of AppLovin very vulnerable. If your stock has a high multiple and there’s even a whiff of concern that it could be displaced by AI, then investors will sell first and ask questions later.

AppLovin Corporation (NASDAQ:APP) provides a software platform that helps advertisers and app developers market and monetize their content. The company offers advertising solutions, analytics tools, connected TV services, and mobile games.

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