CapitalWatch Does an About-Face, Me Quack Up

• CapitalWatch apologizes for inaccuracies in its report regarding Hao Tang, a major AppLovin shareholder.
• The short seller retracted specific allegations linking Tang to criminal activities.
• AppLovin demanded the retraction through a cease and desist letter.
• CapitalWatch maintains its critical stance on AppLovin's financials despite the apology.

A Whale of a Misunderstanding

Well, blow me down. Seems those folks at CapitalWatch got themselves in a heap of trouble, quack-quack. They made a report about some big shot named Hao Tang, a big cheese in AppLovin, saying he was mixed up with some shady characters. Turns out, they got their facts mixed up something awful, which, let me tell ya, is a real bad look.

AppLovin's Legal Eagle Swoops In

So AppLovin, they weren't too happy about all this. They sent their lawyer, a fella named Alex Spiro, after CapitalWatch with a cease and desist letter. Now, this Spiro guy, he's no slouch. Represents big names like Elon Musk! That's when CapitalWatch started squawking a different tune. Talking about 'rigorous six-month investigation' but seems someone was trying to use Verbal Kung Fu Masterclass - Unlock the Secrets of Persuasion, but in this case, they seemed to have failed.

From Bold Claims to Humble Pie

They had to admit they goofed and take back the parts about Tang. Said they "erroneously associated" him with some court ruling. Makes ya wonder what kind of reporting they were doing in the first place. Like me trying to bake a cake – pure chaos, I tell ya.

Standing by Their Critical Stance

Even though they apologized, CapitalWatch is still chirping about AppLovin's money matters. They say their opinion on AppLovin's financials hasn't changed. It's like me saying I'm still the best darn sailor, even after crashing a few boats. Some things just never change.

A History of Short-Seller Scrutiny

AppLovin's been under the microscope from short sellers before. Muddy Waters, Fuzzy Panda, and Culper Research have all taken shots at them. But the CEO, Adam Foroughi, he's not backing down. Calls it "nefarious" and says they're trying to drive down the stock for their own gain.

From Zero to Hero Stock

Now, here's the kicker: AppLovin's stock has gone bonkers since they went public. Up over 700% in 2024 alone! Talk about a comeback story. Makes me think, maybe I should invest instead of chasing that darn Gladstone Gander.