Overview

• The SEC is reportedly examining whether AppLovin violated partners’ data‑sharing rules to deliver highly targeted ads, according to Bloomberg.
• The review follows a whistleblower complaint alongside short‑seller claims that the company used unauthorized “fingerprinting,” a practice restricted by Apple and, until February, by Google.
• Shares fell 14% Monday to $587 after an intraday drop of up to 19%, and Forbes estimates the slide erased about $8.65 billion in wealth for top executives and early investors.
• Trading remained volatile, with the stock slipping roughly 2% after hours Monday and swinging in early Tuesday moves before briefly turning positive.
• AppLovin said it regularly engages with regulators and has not been accused of wrongdoing, as investors weigh potential risks such as fines, mandated product changes, or strains with major platform partners.