做空公司盯上美国热门科技股！AppLovin一度暴跌超23%、盘中触发熔断

Core Viewpoint - AppLovin faces significant scrutiny from short-sellers, with allegations of violating app store policies by installing applications on users' devices without consent, which has led to a substantial drop in its stock price [2][3][4]. Group 1: Allegations Against AppLovin - Multiple short-seller reports accuse AppLovin of exaggerating the effectiveness of its AI advertising platform, claiming revenue growth is driven by coercive app installations rather than genuine AI advantages [4][6]. - Culper's report highlights that AppLovin allegedly uses a "backdoor" method to install applications on users' devices without their consent, which is a key driver of its revenue [6][7]. - The report also raises concerns about AppLovin's e-commerce operations, suggesting they manipulate advertising attribution by requiring advertisers to spend a minimum of $600,000 on Meta to access their platform [8][9]. Group 2: Market Reaction and Stock Performance - Following the release of the short-seller reports, AppLovin's stock experienced a dramatic decline, falling over 23% in a single day, marking its largest drop since 2022 [3][4]. - In the past five trading days, the company's stock has cumulatively dropped more than 36% [3]. - Despite the negative reports, Wall Street analysts maintain a generally optimistic outlook, with 21 buy ratings and an average target price of $542.59, indicating a potential upside of over 40% from recent closing prices [4]. Group 3: Regulatory Risks - The allegations suggest that AppLovin's practices may violate Google Play's policies, which could lead to regulatory scrutiny and potential fines from the Federal Trade Commission (FTC) [10][11]. - Fuzzy Panda's report indicates that if major tech companies like Apple, Google, and Meta take action against these alleged practices, AppLovin's business model could be significantly threatened [12].