NEW YORK, Feb 25, 2026, 18:43 ET — After-hours.
- APP shares rose sharply in regular trading, then eased in after-hours trading.
- The stock has whipsawed this week as investors weigh regulatory scrutiny.
- Traders are looking ahead to the next earnings update and any SEC developments.
AppLovin (APP.O) shares rose 7.2% to close at $421.63 on Wednesday and then fell 1.5% to $415.35 in after-hours trading, a session that runs after the 4 p.m. close. (MarketScreener)
The move keeps AppLovin on screens after a string of sharp swings. About 5.548 million shares traded on Wednesday, and the stock remains well below its record close of $733.60 set on Dec. 22, according to FinanceCharts data. (FinanceCharts)
The broader tape helped. U.S. stocks ended higher and investors took comfort from strong results at Nvidia, a Reuters markets report said, easing some of the day’s nerves around the AI trade. (Reuters)
But AppLovin’s story still runs through regulators. The U.S. Securities and Exchange Commission is still investigating the company, the agency said, according to a Reuters report that cited Bloomberg News. The SEC has not accused AppLovin or its executives of wrongdoing, Reuters said. (Reuters)
The company has pointed investors back to its latest results and outlook. AppLovin reported fourth-quarter revenue of $1.658 billion and guided first-quarter revenue to $1.745 billion to $1.775 billion, while forecasting adjusted EBITDA of $1.465 billion to $1.495 billion, it said in its Feb. 11 release. (Adjusted EBITDA is a profit measure that strips out interest, taxes and other items.) (AppLovin)
On that earnings call, Chief Executive Adam Foroughi told analysts “the recent volatility warrants addressing,” as questions swirled around competition and AI. (Investing)
The backdrop explains the tug-of-war in the stock. Buyers show up on pullbacks; sellers resurface on any hint the regulatory story could widen.
The risk is straightforward: a tougher turn in the SEC matter, or new restrictions tied to how data moves through ad-tech pipes, could bring another fast drop. In a stock that has been swinging by high single digits in a day, sentiment can flip quickly.
What investors watch next is the calendar and the headlines. Yahoo Finance lists AppLovin’s next earnings date as May 6, though dates on market calendars can change. (Yahoo)
