Reported 2 days ago
AppLovin Corporation (NASDAQ:APP) experienced a significant drop in share price, falling 14.03% to $587, after the SEC launched an investigation into its data collection practices. The inquiry was prompted by allegations of violating service agreements with platform partners for targeted advertising, spurred by complaints and reports from short-sellers. The company has engaged legal counsel to address the claims, while analysts suggest that other AI stocks may offer better investment potential.
Source: YAHOO