As of 7:43 p.m. ET on Friday, December 26, 2025, AppLovin Corporation (NASDAQ: APP) was trading around $714 in late trading, down about 1.8% from the prior close after a quiet, post-Christmas session marked by thin liquidity across U.S. equities. ^[1]

The broader market backdrop matters for high-beta names like AppLovin: Wall Street finished Friday essentially flat and close to all-time highs, with the Dow, S&P 500, and Nasdaq each dipping slightly as investors paused after a multi-day run-up. Reuters quoted Ryan Detrick, chief market strategist at Carson Group, noting the market was “catching our breath” after a strong rally, while the seasonal “Santa Claus rally” window continues into early January. ^[2]

Below is what investors…