Shares of Applovine On Wednesday by 16%, when two empty sellers reported that the corporate's integrity doubts the corporate's artificial intelligence axon promoting software, which prompted the tech giant to grow to be the first-class tech stock of 2024.
Empty seller Fuzzy Panda claimed that the Axon model was “the connection of a house of cards” based on fraudulent promoting tactics.
“We believe that Applovin has drawn every trick in the book,” says the post office. “We were told that they steal data Meta In your e-commerce print. We also discovered that Applovin used consumers and their data in a way Google And Apple App Store guidelines. “
The reports of Fuzzy Panda and Culper research Come after a wonderful income within the fourth quarter of February, which felt the Wall Street on Applovin Bullisch. CEO Adam Foroughi announced that the corporate would split its mobile gaming segments and that the Axon model would proceed to expand to other e-commerce sectors similar to healthcare, automobiles and more. Applovine's promoting revenues rose by 73% within the quarter and reached almost 1 billion US dollars.
“We believe that the recent success of Applovine is based on mobile games on the systematic exploitation of app permissions that enable the advertisements themselves, silence, backdoor app installations directly on the telephones of the user with just one click-a single click that is often accidental thanks to the notorious UX-GIMICKS of the company,” wrote analysts of Culper Research.
The share of the corporate based in Palo Alto rose over 700% in 2024 and was the highest performer within the sector.
Fuzzy Panda confirmed to CNBC that the corporate was still not in Applovine. Culper Research, who shared research results with Fuzzy Panda in line with a letter from Culper Research founder Christian Lamarco, didn’t immediately answer a confirmation request on the time of publication.
Applovin refused to comment.
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