After hitting an all-time high of $525.15 in February, AppLovin Corp.'s ( NASDAQ: APP ) share price tumbled more than 35% due to a pending class action lawsuit and to short seller reports. However, the software company's better-than-expected first-quarter report gave the stock a boost. The share price is now 45.7% higher than 90 days ago, including a 7.5% pop on Thursday after Meta posted strong revenue growth due to AI demand. Compared to a year ago, AppLovin stock is 406.7% higher, far outperforming the S&P 500 and the Nasdaq in that time.