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Shares of Applovin TUMBLED 13% Wednsday as two short-with-Seller reports cast doubt on the integrity of the company’s Ai-Powered Axon Advertising Software that Helped Drive The Tech GOVE THECH GOVE THECH GORE Stock of 2024.
Short Seller Fuzzy Panda Alleged that the axon model was “the nexus of a house of cards” Built on fraudulent advertising tactics.
“We be Believe Applovin has pulled every trick in the book,” The post stated. “We’ve been told they are stealing data from Meta in their e-commerce push. We also discovered applovin exploiting consumers and their data in ways which are clear violations of Google and Apple’s App Store Policies. “
The reports from Fuzzy Panda and Culper research Come following a Steller Fourth-Quarter Earnings Beat In February that kept wall street feeling bulish on Applovin. CEO Adam foroughi Announced The Company Bold Spin off Its Mobile Gaming Segments and Continue expanding the axon model to other e-commerce sectors, like health care, Automotive and more. Applovin’s advertising revised 73% in the Quarter to Reach Almost $ 1 Billion.
It wasn’t clear if Fuzzy Panda and Culper Research was still short on applovin at the time of publication, and neither firm firm immediatily responded to a request for forthrous comment.
Applovin did not immomediatly respond to a request for comment.
This is a developing story. Please check back for updates.
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