Stock Track | AppLovin Plunges 19.57% as Short Sellers Allege Ad Fraud and Data Exploitation

Stock Track
02-26

AppLovin Corporation (APP) stock plummeted 19.57% in pre-market trading on Wednesday, as short sellers issued scathing reports alleging unethical business practices by the mobile app technology company.

Short sellers Fuzzy Panda Research and Culper Research both disclosed taking short positions on AppLovin, accusing the company of engaging in advertising fraud and exploiting consumer data in ways that violate app store policies.

Fuzzy Panda alleged that AppLovin's core algorithm Axon 2.0, used to match advertisers and publishers, is built upon tactics referred to as "Ad Fraud." The firm also claimed that AppLovin is "stealing" data from Meta (META) as part of its e-commerce push, and believes tech giants like Apple, Google, and Meta have a vested interest in stopping AppLovin's "dark ad practices."

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