Why AI Stock AppLovin Slumped Today
Very frequently, when a company's stock is targeted by a vociferous short seller, it can take a hit to its share price. That was the dynamic behind AppLovin's (NASDAQ: APP) 0.7% dip on Thursday after a notable "shortie" published a report that was highly critical of the company. That decline was a bit steeper than the 0.4% slide of the S&P 500 index that day.
The short seller is a firm called Culper Research, and Thursday morning it laid out in a 30-page document its reasons for shorting AppLovin.
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Source Fool.com
