Financial crimes

Short seller CapitalWatch apologized and revised a report alleging financial crimes by AppLovin shareholder Hao Tang, retracting inaccuracies and misinformation. This led to a 14% surge in AppLovin shares. AppLovin had previously demanded a retraction. Despite retracting specific claims, CapitalWatch maintains its overall financial assessment of AppLovin remains unchanged. AppLovin has faced prior scrutiny from other short sellers.