Stock Track | AppLovin Plunges 9.63% in Pre-Market Amid Compliance Risks and Money Laundering Allegations
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AppLovin Corporation (APP) saw its stock plummet 9.63% in pre-market trading on Tuesday, as investors reacted to mounting compliance concerns and allegations of financial misconduct.
According to recent reports, the company faces systemic compliance risks, with allegations pointing to suspected major financial misconduct within its core capital structure. Additionally, a short-seller report accused AppLovin's major shareholders of money laundering, alleging that the company was used to launder billions in illicit funds. The report also raised concerns about potential legal actions from the U.S. Department of Justice and a national security review.
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