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AppLovin down 12% after Bloomberg says data collection probed by SEC

Shares of AppLovin (APP) are down $81.80, or 12%, to $600.96 in afternoon trading after Bloomberg’s Olivia Solon reported that the Securities and Exchange Commission has been probing the data-collection practices of the mobile advertising tech company. People familiar with the matter said the agency has looked into allegations that AppLovin violated platform partners’ service agreements to push more targeted advertising to consumers. AppLovin declined to comment, saying it generally doesn’t speak on potential regulatory matters, telling Bloomberg in an emailed statement: “We regularly engage with regulators and if we get inquiries we address them in the ordinary course.”

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