AppLovin stock whipsaws after CapitalWatch report; Piper Sandler sticks with $800 target
AppLovin shares fell 0.6% in after-hours trading after a short-seller report from CapitalWatch alleged the company was used to launder illicit funds. The stock plunged nearly 12% intraday before partially recovering. AppLovin has not responded to requests for comment. Investors await the company’s February 11 earnings report for further updates.