AppLovin Shares Jump 2.5% to $422.30 on ChatGPT Ad Deal Speculation
AppLovin shares rose 2.5% to $422.30 after speculation it’s partnering with OpenAI to serve ads on ChatGPT. The stock remains 29% below its 100-day SMA and down 8.5% over the past year, though technicals hint at a potential stabilization.
1. ChatGPT Ad Monetization Rumor
Social media speculation that AppLovin is collaborating with OpenAI to serve ads on ChatGPT triggered a 2.5% stock rally, lifting shares to $422.30. Multiple accounts reported that OpenAI’s recent capital raise call mentioned an ad partnership, though the information remains unconfirmed.
2. Technical Indicators Point to Stabilization
The stock trades 7.7% below its 20-day SMA and 29% below its 100-day SMA, reflecting sustained bearishness. An RSI of 39.7 sits in neutral territory and a positive MACD crossover suggests a potential pause in the downward trend.
3. Year-Long Performance and Valuation
Over the past 12 months AppLovin shares have fallen 8.5%, nearing its 52-week low of $200.50 from a high of $745.61. Edge scores show moderate growth potential (36.4) but weak momentum (16.9) and value (0.4), indicating premium valuation pressures.