Why AppLovin Stock Zoomed Almost 19% Higher This Week

According to data compiled by S&P Global Market Intelligence., AppLovin's (NASDAQ: APP) stock was among the market's most-loved this week, rising by nearly 19% in price over the period. That was entirely understandable, as the shares were tapped for an inclusion on one of the top stock indexes in the world, and capped the week by being the subject of an analyst price target raise.Just after market close last Friday, index compiler S&P Dow Jones Indices, a division of S&P Global, announced that AppLovin would be a component stock of its bellwether S&P 500 (SNPINDEX: ^GSPC). This was among a series of adjustments made by S&P Dow Jones Indices as part of its quarterly "rebalancing" to reflect changes in market cap for certain stocks. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool