AppLovin Corporation (APP-Q)

One of the biggest IPOs of the year, but volatile like many IPO's. Since then, share have fallen from $81 to $55 as original shareholders sell in the obligatory lock-up period. They just reported a strong quarter: 123% revenue growth. It rallied 8.5% the next day, then lost all those gains. Why? The company didn't raise its full-year forecast, and some investors worried about Apple's privacy rules that make it hard for companies to do targeted advertising, but this doesn't even effect APP-Q. In the near future, the lock-up period will end, freeing more shares. APP offers strong growth and terrific margins. Buy on dips.

They make software tools for mobile app developers. When they IPO'd in April, it was a dud. Within a month, it tumbled below $50, but recently the market has embraced tech stocks again, so this rebounded to $81. They have a lot going for it. They now have 200 apps including popular mobile games like Project Makeover and Bingo Story, with over 40 million daily active users, plus tech tools like a monetization platform for app developers and a machine-learning platform. They recently bought a company that mobile advertisers track the effectiveness of their marketing campaigns. Their various businesses synergize each other. Further, they acquire mobile games often and synergize well. It's a play on a rapidly growing segment of the economy. 2018-2020, they boasted 73% annual compound revenue growth. Their third-party software business grows at 90%. Caveat: The stock isn't cheap, and IPO offered few shares, so this will get hammered when the lock-up period ends, but that's a buying opportunity. Leave room to add on weakness.