AppLovin Corp (NASDAQ:APP) shares are trending on Tuesday.
Check out the current price of APP stock here.
Shares of the mobile technology company fell 2.29% in after-hours trading to $573.57, dropping $13.43 per share.
During regular trading on Monday, the stock closed at $587.00, down $95.76, or 14.03%, from the previous day's close, according to Benzinga Pro data.
SEC Investigating Data-Collection Practices
The Securities and Exchange Commission (SEC) is investigating AppLovin's data-collection practices, including potential violations of partners' service agreements related to ad targeting.
The review by the SEC's cyber and emerging technologies unit stems from a whistleblower complaint and short-seller reports alleging that AppLovin used unauthorized "fingerprinting" to track users across apps—a practice restricted by Apple Inc. (NASDAQ:AAPL) and, until February, by Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL).
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Short Sellers Target Company Multiple Times
Short-seller Muddy Waters Research released reports in March and May, accusing AppLovin of using persistent identifiers that allegedly violate user privacy and breach partners’ terms of service.
The company has also faced separate allegations from Culper Research and Fuzzy Panda Research.
Market Data
Over the past year, the Californian company gained 319.44%, reaching a peak of $718.54 on September 30, which is 18.31% higher than Monday's close of $587.00.
Benzinga’s Edge Stock Rankings indicate the stock has a Value in the 4th percentile. Here is how the stock ranks on other metrics.
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Photo: Piotr Swat / Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
