AppLovin Shares Sink After Muddy Waters Says It’s Short (1)

AppLovin Corp. shares tumbled 20% Thursday, a record one-day drop, after Muddy Waters issued a short report against the company.

It’s at least the third report from a short seller in about a month. In February, Fuzzy Panda and Culper Research both published short reports against the company, which provides marketing services to app developers, sending shares lower. Those reports came just days after The Bear Cave issued its own cautious piece against AppLovin shares.

Read more: AppLovin Sinks as Short Sellers Target 2024’s Top Tech Stock

AppLovin was one of the top-performing technology stocks in 2024, gaining more ...