AppLovin opened 9% lower
Wallstreetcn·Capitalwatch strikes again: AppLovin is just the tip of the iceberg in the money laundering industry chain, with a dozen other companies involved, and "nuclear-level" materials have been submitted to regulators
Wallstreetcn·- Capitalwatch has accused AppLovin's core shareholder of colluding with a crime organization to launder illegal funds through Cambodian app WOWNOW, turning them into advertising fees for AppLovin. - The investigation reveals that this issue is part of a larger money laundering network tracing back to illegal funding sources in China, affecting several U.S. listed companies. - Despite AppLovin's stock price increase following these allegations, Capitalwatch insists that the evidence of wrongdoing remains valid and the regulatory scrutiny is just beginning.A high-profile short report is here! Capitalwatch accuses AppLovin of "advertising as money laundering," assisting "Chen Zhi and others in Southeast Asia's pig butchering schemes."
Wallstreetcn·- Capitalwatch published a short-seller report accusing AppLovin Corporation of systemic compliance risks and financial crimes linked to major shareholder Hao Tang. - The report alleges that illegal funds from China and Southeast Asia have been funneled into the U.S. capital market, allowing AppLovin to assist a transnational crime organization in legitimizing assets. - Capitalwatch warns that these allegations could trigger regulatory scrutiny similar to past incidents, jeopardizing AppLovin's standing on the NASDAQ and suggesting significant legal risks for its major shareholders.