AppLovin CEO urges investors to 'dig deeper' after short-seller report, company retains Alex Spiro

AppLovin CEO Adam Foroughi hit back at new short-selling allegations from Muddy Waters Research after the ad-tech company's stock suffered its steepest drop on record on Thursday. Foroughi penned a new blog post that asked investors to "dig deeper" on the allegations, saying the report's claims about the success of their AI-powered ad tactics could be easily disproven by artificial intelligence models like Grok "in minutes." Muddy Waters on Thursday became the third short-selling firm to publish research meant to raise significant investor skepticism about the company's technology, after AppLovin's stock price soared more than 700% last year. The report said AppLovin's ad tactics "systematically" violate app stores' terms of service by "impermissibly extracting proprietary IDs from Meta, Snap, TikTok, Reddit, Google, and others." Foroughi wrote in his response that, "Our business is technical, and we get it — it's not always easy to understand." "It's also incredibly hard for some ... Read full article.