Twitter rises on $1 bln sale of MoPub to AppLovin; AppLovin shares rally
06/10/2021 22:03
** Twitter Inc TWTR.N shares rise 2% to $62.52 in extended
trading after it says will sell mobile ads co MoPub to AppLovin
Corp APP.O for $1.05 bln in cash urn:newsml:reuters.com:*:nL4N2R22RU
** APP shares jump 9% to $84 after the bell
** MoPub, which generated about $188 mln in annual rev for
TWTR last year, tracks ad inventory in real time
** Sale will allow TWTR to invest in "the core products that
position it for long-term growth," TWTR CEO Jack Dorsey said
** TWTR shares closed regular session on Weds up 13% YTD
** Shares of KKR-backed AppLovin closed Weds at $77 vs their
Apr IPO price of $80
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))