Applovin Corp (NASDAQ:APP) shares are soaring Wednesday. Oil prices are sliding on the U.S.‑Iran agreement that could reopen a critical shipping chokepoint.
AppLovin stock is among today’s top performers. Why are APP shares rallying?
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Oil Pullback Sparks Fresh Optimism For Software
Crude prices moved sharply lower on Wednesday as traders weighed the possibility of a deal between Washington and Tehran that could restore traffic through the Strait of Hormuz. WTI futures were down 5.4% in early U.S. trading, while Brent futures fell 4.6% to $94.90 per barrel.
