The news: AppLovin shares fell as much as 22% this week after short-seller firms Fuzzy Panda and Culper accused the company of fraudulent advertising tactics and data exploitation, CNBC reports.

The accusations challenge the legitimacy of AXON 2.0, AppLovin’s AI-powered ad model, which has been a key driver behind its 700% stock surge in 2024.

The response: CEO Adam Foroughi denounced the reports as “false and misleading,” accusing short sellers of attempting to drive down AppLovin’s stock price for financial gain.

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