AppLovin stock jumps 5% then dips after hours as Citi’s $710 target and options bets grab attention
AppLovin shares closed up 5.5% at $444.93 Thursday, then slipped about 2% in after-hours trading. Citi initiated coverage with a Buy rating and a $710 price target, while Piper Sandler maintained a Buy at $650. Options pricing showed traders bracing for more volatility, with 30-day implied volatility near 73.6. A recent insider filing showed shares withheld for taxes, not an open-market sale.