Is AppLovin Stock a Buy Now?
AppLovin's (NASDAQ: APP) stock price plunged 10% on Aug. 9 after the company made an unsolicited takeover bid for Unity Software (NYSE: U). AppLovin is offering to exchange 1.152 shares of its Class A voting stock as well as 0.314 shares of its Class C nonvoting stock in exchange for each outstanding share of Unity. If the merger is approved, Unity's shareholders would receive an equity stake of 55% in the combined company, but only retain a 49% voting stake due to the inclusion of AppLovin's non-voting shares.
