AppLovin (APP) stock plummeted Wednesday after two research firms disclosed that they were short APP stock.
Fuzzy Panda and Culper Research published negative reports on the app marketing platform. Last week, The Bear Cave newsletter also published a negative report on AppLovin.
↑ X NOW PLAYING How To Assess A Stock's Character And Measure Volatility With Average True RangeIn morning trades on the stock market today, AppLovin stock plunged more than 17% to 311.40. AppLovin shares have fallen for seven straight trading sessions.
On Feb. 13, AppLovin stock spiked to a record high of 525.15 after the Palo Alto, Calif.-based company posted a beat-and-raise earnings report.
AppLovin's software platform enables app developers to market, monetize and analyze their apps. The company also has expanded into advertising-based e-commerce and streaming television services.
AppLovin is on two IBD stock lists: Big Cap 20 and Tech Leaders.
Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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