Reported 4 days ago
AppLovin Corp. shares dropped 20% in a single day, marking a significant decline after Muddy Waters released a short report alleging data misappropriation and violations of service terms. This follows previous reports from other short sellers, contributing to a 19% decrease in shares this year despite bullish long-term analyst ratings. The company's CEO accused short sellers of spreading misinformation to harm AppLovin's success.
Source: YAHOO