AppLovin stock dropped 11% in June after not being included in S&P 500 index

AppLovin (NASDAQ: APP) disappointed investors by not being included in the S&P 500 index rebalancing, causing its stock to drop by nearly 11% in June. Despite speculation, the company was not chosen for the index, leading to further scrutiny from short-sellers like Culper Research. The firm published a critical 30-page report accusing AppLovin of shady business practices and ties to the Chinese government. AppLovin has not officially responded to these allegations, leaving investors concerned.

Read more at Yahoo Finance: Why AppLovin Stock Slumped in June