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1 Hot Software Stock Soared 280% Last Year -- Is It Still a Buy for 2024?

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1 Hot Software Stock Soared 280% Last Year -- Is It Still a Buy for 2024?: https://g.foolcdn.com/editorial/images/761314/four-teenagers-playing-games-on-smartphones.jpg

Many of the top stocks that operate in the massive and rapidly growing digital advertising industry had a stellar 2023. A refocus on profitability helped, as did a rebound in global marketing activity.

AppLovin (NASDAQ: APP) was one of those stocks, notching a nearly 280% rally in 2023, though share prices remain down more than 60% from peaks hit in late 2021.

Headed into 2024, it appears AppLovin's management is focused on the same things that helped it mount the 2023 comeback. Here's what investors need to know about this hot digital ads software stock as it enters the new year.

Source Fool.com

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