AppLovin shares plunged after reports that the SEC is investigating its data-collection practices following a whistleblower complaint. Short-sellers have accused the firm of using Meta, Snap, and Google data without consent to power ad targeting. The probe follows a massive stock surge driven by AppLovin’s AI advertising technology.
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00:02AppLovin shares fell sharply on Monday after Bloomberg reported that the SEC is investigating the mobile advertising firm over its data collection practices, according to CNBC.
00:11Probe recently centers on whether AppLovin violated agreements related to targeted advertising, following a whistleblower complaint and multiple short-seller reports.
00:20Firms including Money Waters, Fuzzy Panda, and Cobra Research have accused AppLovin of breaching app store policies by using proprietary data from major platforms like Meta, Snap, and Google to deliver apps without user consent.
00:33AppLovin's stock has soared 80% this year and more than 700% in 2024, fueled by its AI-driven ad-targeting technology.
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