AppLovin (APP) shares plummeted Thursday after 澳洲幸运5开奖号码历史查询:short seller Carson Blocꦡk’s Muddy Waters said it wa๊s taking a short position, alleging the adtech company engaged in “scammy” practices. 

Shares lost about one-fifth of their value Thursday to close at $261.70, bringing them into negative territory for the year. Still, the stock has nearly quadrupled in value over the last 12 months on expectations it could benefit from growing demand for AI-powered advertising tools as the company reported 澳洲幸运5开奖号码历史查询:strong revenue gains. 

Muddy Waters accused AppLovin of misappropriating data and violating key partner platforms’ terms of service, among other things, and suggested backlash to its practices could hold back AppLovin’s growth plans and lead its services to be blocked by partners and boycotted by clients. 

AppLovin did n𒊎ot immediately respond to a request for comment on the report. 

The report from Muddy Waters comes just weeks after 澳洲幸运5开奖号码历史查询:other short sellers including Fuzzy Panda and Culper Research issued their own reports against AppLovin, accusing the company of engaging i🅺n fraudulent and deceptive practices.