AppLovin stock rises as job post hints at “next-generation” social platform
AppLovin shares closed up 1.9% at $412.09 Thursday after a job posting signaled a new social platform venture. Bloomberg Law reported the company is preparing a social network following a failed bid for TikTok assets outside China. Director Herald Y. Chen converted 150,000 Class B shares and gifted 100,000 Class A shares, according to an SEC filing. Trading volume reached 5.29 million shares.