Why AppLovin Stock Is Plummeting Today
AppLovin (NASDAQ: APP) stock is getting hit with big sell-offs in Wednesday's trading. The company's share price was down 16.1% as of 2:40 p.m. ET and had been down as much as 23.4% earlier in the daily session.
AppLovin's valuation is trending lower today following new bearish reports on the company. Fuzzy Panda and Culper Research both published short-seller reports on the stock today and questioned the company's growth outlook and valuation profile.
AppLovin stock is under pressure today amid bearish outlooks from two short-sellers. Fuzzy Panda recently published a negative report on the company, stating that they believed that the business's rapid growth was built on a house of cards and relied on violating policies on 's and Apple's respective app stores. Culper Research raised similar concerns and stated that it believed the company's recent success in the mobile gaming space was tied to the exploitation of app permissions on mobile devices.
Source Fool.com
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