10 Stocks Investors Are Dumping

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1. AppLovin Corporation (NASDAQ:APP)

AppLovin dropped for a fourth consecutive day on Monday, losing 14.03 percent to end at $587 apiece after it triggered an investigation by the Securities and Exchange Commission (SEC) to look into its data collection practices.

A report by Bloomberg, citing people privy to the matte,r said that the SEC is looking into allegations that AppLovin Corporation (NASDAQ:APP) violated service agreements with its platform partners to deliver more targeted advertising to consumers.

Bloomberg added that the probe is being handled by the agency’s enforcement officials, focused on cyber and emerging technologies.

The investigation followed a complaint against the company, alongside short-seller reports, earlier this year.

Fuzzy Panda Research claimed in February that AppLovin Corporation (NASDAQ:APP) misappropriated data from Meta, while Culper Research accused the company of exploiting application permissions to enable advertisements that could trigger unauthorized app installations on user devices.

Meanwhile, Muddy Research said in March that AppLovin Corporation (NASDAQ:APP) collected and structured user IDs from key platform partners.

For its part, the listed firm said it engaged a law firm to investigate the allegations.

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READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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