Why AppLovin Stock Is Plummeting Today

AppLovin (NASDAQ: APP) stock is sinking in Tuesday's trading. The company's share price was down 9.6% as of 12:45 p.m. ET, against the backdrop of a 0.8% decline for the S&P 500 (SNPINDEX: ^GSPC) and a 1.5% decline for the Nasdaq Composite (NASDAQINDEX: ^IXIC). In addition to bearish momentum for the broader market, AppLovin is seeing a pullback in conjunction with new coverage from Bank of America.