Why AppLovin Plunged This Week
Shares of AppLovin (NASDAQ: APP) fell 22% this week as of Friday at 3:10 p.m. ET, according to data from S&P Global Market Intelligence.
AppLovin was the best-performing technology stock in 2024, up 714%, and also started 2025 off well on the back of a very strong Q4 earnings report. However, this week, two different short-seller hedge funds published pieces on AppLovin, accusing the company of misleading customers and investors alike.
On Wednesday, short-seller firms Fuzzy Panda and Culper Research published jointly researched short cases against AppLovin. At the core of their arguments was that AppLovin's Axon 2.0 digital ad platform, which serves advertisements in free-to-play mobile games, is using dubious tactics to artificially inflate its ad sales.
Source Fool.com
Axon Enterprise INC Stock
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