AppLovin is a prominent platform for mobile app marketing, of particular interest to retail investors after a 7-fold jump in its stock in 2024.
- Social media accounts reported that OpenAI has partnered with AppLovin to market its ChatGPT app.
- AppLovin or OpenAI haven’t confirmed or commented on the partnership rumours.
- Stocktwits sentiment remains for APP ‘bullish.’
AppLovin Corp. shares surged by over 6% in after market session on Thursday, reacting to unconfirmed social media posts about a partnership with ChatGPT maker OpenAI, with retail investors forecasting a further upswing.
An X user, investor Jonah Lupton, posted on Thursday: According to his source, “OpenAI mentioned today on their capital raise call that they're now starting to work with $APP (Applovin) on monetizing ChatGPT through ads.” Lupton owns AppLovin stock, he disclosed.
Multiple social media accounts reported similar details about the collaboration, which in turn fueled the stock. OpenAI or AppLovin has yet to announce a formal collaboration or comment on the rumour.
AppLovin provides software and AI solutions to help developers improve the marketing and monetization of their mobile apps, particularly gaming apps.
Retail’s View
Conversation picked up on Stocktwits, with users looking at the rumoured partnership with OpenAI as a positive sign and questioning whether the after-market rally would continue into Friday.
“$450 tomorrow at a minimum. FOMO,” said a user, forecasting sharp gains driven by traders aggressively picking up the stock for the fear of missing out.
“$APP true or not. Rumor or not. It’s nice to see a positive rumor than the false lies from the short reports,” another said.
Critical Reports
AppLovin has been accused in the past of inflating performance metrics and stealing customer data from social media, among other things, by notable financial blogs such as Fuzzy Panda Research, Culper Research, and Muddy Waters Research.
More recently, Capitalwatch, a U.S.-based financial news site, published a detailed report claiming that AppLovin’s primary shareholders, Hao Tang and his sister Ling Tang, used the company to launder billions of dollars in black money. It later redacted those claims.
Critical reports notwithstanding, investors have closely followed AppLovin after its stock surged a whopping 700% in 2024 and then another 100% last year.
Earlier this month, the company posted upbeat results and a strong outlook, but the stock still declined as investors remained wary of rising competitive pressure from new AI-driven entrants and established digital ad giants like Meta Platforms and Google.
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