Stocks with Growing Apps Outperform - Is Your Portfolio Missing Out?
December 25, 2:44 pm
At AltIndex, we believe in the power of alternative data to uncover hidden investment opportunities. One such data point that we closely monitor is mobile app downloads. By analyzing the number of times a company's app is downloaded (available in our stock screener), we can gain valuable insights into user engagement and potential revenue growth.
A Data-Driven Approach to Stock Selection
To test this theory, we analyzed the stock performance of 20 companies that experienced significant increases in their mobile app downloads. The results were striking: 16 out of the 20 companies saw their stock prices rise, with an average gain of 36%, outperforming the broader market. This suggests a strong correlation between rising app downloads and positive stock performance.
Top Performers: A Closer Look
Several companies stand out in this analysis:
Coinbase: This cryptocurrency exchange giant witnessed a surge in app downloads, likely fueled by the recent rally in cryptocurrency prices. Coinbase's stock price (COIN) has also soared, reflecting this increased user activity.
Robinhood: Another popular trading platform, Robinhood (HOOD) also experienced a significant spike in app downloads, indicating a surge in new users. This has translated into impressive stock price gains, with the company's shares up over 200% year-to-date.
Microsoft: With the continued rise of remote work, Microsoft's Teams app has seen a significant increase in downloads. This increased user engagement has contributed to Microsoft's (MSFT) strong stock performance.
Top 20 Companies by Mobile App Downloads
The table below showcases the top 20 companies experiencing the most significant growth in app downloads over the past year, alongside their corresponding stock price movements. Please note that app download figures are estimates.
| Company | App Downloads | 1y change % | Price Chg % | |
|---|---|---|---|---|
 | CoinbaseCOIN | 50,762 | 360.7% | 47.8% |
 | Mercado LibreMELI | 117,512 | 38.8% | 8.8% |
 | OperaOPRA | 90,624 | 26.4% | 55% |
 | CloudflareNET | 70,301 | 35.5% | 31.7% |
 | MicrosoftMSFT | 133,014 | 15.1% | 18.2% |
 | Best BuyBBY | 23,430 | 99.8% | 18.9% |
 | RobinhoodHOOD | 15,782 | 277.9% | 204% |
 | Paramount GlobalPARA | 25,784 | 61% | 29.5% |
 | RokuROKU | 42,350 | 28.2% | 15.5% |
 | ExpediaEXPE | 33,134 | 37.6% | 23.6% |
 | AirbnbABNB | 95,244 | 10.1% | 1% |
 | Grab HoldingsGRAB | 74,493 | 10.4% | 53% |
 | GarminGRMN | 21,515 | 30.1% | 67% |
 | JP Morgan Chase & Co.JPM | 20,803 | 30.6% | 46.6% |
 | Capital OneCOF | 18,295 | 35.4% | 41.1% |
 | AffirmAFRM | 18,226 | 34.4% | 30.2% |
 | LyftLYFT | 23,909 | 24.1% | 9.6% |
 | Frontier AirlinesULCC | 9,664 | 92% | 32.4% |
 | CostcoCOST | 16,959 | 37.2% | 44.2% |
 | ProgressivePGR | 13,098 | 53.1% | 54.9% |
Unlocking Investment Opportunities with Alternative Data
This analysis highlights the power of alternative data, such as mobile app downloads, in identifying potential investment opportunities. By incorporating this type of data into your investment process, you can gain a unique edge and make more informed investment decisions.
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