AppLovin Corp. (APP) saw a significant decline in share prices by 5.57% on Monday, closing at $565.94 per share due to a new round of investigation by multiple state attorneys general over consumer data concerns. The probe began in March and continued through the summer, following the SEC’s own investigation into the company’s data collection practices. The SEC was looking into allegations that AppLovin violated service agreements with its platform partners to deliver more targeted advertising. AppLovin engaged a law firm to investigate the allegations. Investors are advised to explore other AI stocks with higher potential returns and limited downside risk.

Read more at Yahoo Finance: AppLovin (APP) Falls Hard on New Round of Probe