AppLovin short-seller urges exclusion of the stock from S&P 500 index

The short-seller assault on AppLovin is getting ratcheted up a notch. A week after Fuzzy Panda Research put out a report alleging that AppLovin's ad-tech software is the "nexus of a house of cards," and accusing the company of violating Google and Apple's app store policies, the short-seller firm is urging the S&P Index Committee to keep AppLovin's stock out of the benchmark index. "We are writing to the committee regarding very serious allegations that have been raised against a company that will potentially be added to the S&P 500, AppLovin (APP)," Fuzzy Panda wrote in a March 4 letter to the committee, which is responsible for making quarterly changes to the index. CNBC viewed a copy of the letter. Representatives from AppLovin and S&P declined to comment. Fuzzy Panda's case against AppLovin comes after the company's share price soared more than 700% in 2024, lifting its market cap past $110 billion. The historic rally made AppLovin a prime candidate for inclusion in the S&P 500 ... Read full article.