BREAKING: U.S. DOLLAR IS AT *RISK*… (you are in trouble)
Shares of digital advertising up-and-comer Applovin (NASDAQ: APP) plunged 18.2% in March, according to data from S&P Global Market Intelligence.
Applovin already had a rough February, when it was hit by two short-seller reports. And while the entire technology sector had a rough March as well, Applovin had another especially bad month, as it was hit by — you guessed it — a third short-seller report.
On March 27, a short-selling hedge fund manager under the name Muddy Waters published a short report against Applovin.
According to Muddy Waters, Applovin’s new digital advertising engine engages in a number of irreputable tactics in order to make its digital advertising revenue look better than it otherwise would be. Muddy Waters concluded Applovin’s software essentially scraped user IDs and data from other social media platforms in order to find high-value targets, which…
