Stock Movers AppLovin Soars, Coinbase Shares Higher, Carvana Jumps
May 8, 2025
AppLovin's shares soared after a strong earnings report, plus a strategic sale of its video-game unit to focus on advertising technology. Coinbase's stock climbed following its monumental $2.9 billion acquisition of Deribit, aiming to expand in the derivatives market as crypto activity spikes. Meanwhile, Carvana enjoyed a significant jump in shares due to doubled profits and record vehicle sales, showcasing resilience despite broader economic challenges in the automotive sector.
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AppLovin's Strong AI Ad Performance
- AppLovin's AI-powered ad platform beat earnings expectations with strong margins.
- The firm focuses on helping app publishers sell ad space and user acquisition efficiently.
Coinbase Expands with Big Crypto Deal
- Coinbase is pushing into crypto derivatives with a $2.9 billion acquisition of Deribit.
- This move shows crypto firms' deal-making surge amid market interest and Bitcoin price rise.
Bitcoin-Dollar Price Paradox
- Bitcoin and the US dollar rose simultaneously, contradicting past inverse trends.
- This relationship challenges Bitcoin's promise as a stable currency alternative.