AppLovin Under Regulatory Probe

6 days ago

Nora Melinda

"Let's go to App Leven. What's going on? >> Yes, the keep it easy for us. The ticker is a App. Uh shares are down as much as more than 7%. Um now they paired a bit up down about 3.8%. This is after the New York Post reported that the state regulators have reached out to multiple short sellers in a possible preliminary probe on the company here. So the states involved in this concern are Delaware, Oregon, Connecticut. This all according to the report. But if you do look back uh earlier this month in early October, we had the SEC that was probing the company in terms of its data collection practices. So lots of heat right now on this company. Uh shares are up though 78% so far this year."

The speaker discusses regulatory pressures on AppLovin, noting that shares have dropped over 7% amidst reports of state regulators contacting short sellers. This follows an earlier SEC probe into the company’s data collection practices. Despite these headwinds, the stock has delivered strong year-to-date gains of 78%, reflecting mixed sentiment.

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