Jim Cramer on AppLovin: "I'm Not Lovin' as Much"

AppLovin Corporation (NASDAQ:APP) is one of the stocks Jim Cramer was asked about. A caller inquired if Cramer still “loves” the stock, and he replied:

“Okay, AppLovin, I’m not lovin’ as much. It’s had a very, very big move to the point where it sells at 77 times earnings. I think you have to sell half of the stock when it gets there. There’s just too much risk, up 77%, with all these stocks that are, even though this is a company that makes a lot of money, I just don’t like that price-to-earnings multiple. And if you go to How to Make Money in Any Market, it’ll explain exactly why I said the multiple’s too high.”

AppLovin Corporation (NASDAQ:APP) provides a software platform that helps advertisers and app developers market and monetize their content. The company offers advertising solutions, analytics tools, connected TV services, and mobile games. During the November 11 episode, a caller asked Cramer’s advice on whether they should hold, sell, or add to their position in the stock. He replied:

“Okay, I think AppLovin is an amazing company that is just making a ton of money, and I like it very much. That makes me, I’m in a minority of the so-called professionals, but I think it’s a very, very good company, and people don’t understand. It knows how to make money better than almost any company on earth.”

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.