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Why AppLovin Stock Tumbled by 14% Today

TheMotleyFool

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AppLovin (NASDAQ: APP) stock took quite a fall in late-session action on the market Monday. Investors were clearly spooked by a media report that a top regulator was looking into certain business practices of the mobile marketing specialist. That sudden slide saw the company's shares fall 14% in value, contrasting quite poorly with the 0.4% gain of the S&P 500 index on Monday.

Near market close Monday, Bloomberg reported that AppLovin has been the subject of a probe by the Securities and Exchange Commission (SEC).

Image source: Getty Images.

Source Fool.com

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