Short seller CapitalWatch did something you rarely see on Wall Street — it issued an apology. CapitalWatch retracted key portions of a January report that accused Hao Tang, a major AppLovin (APP) shareholder, of ties to criminal syndicates and money laundering operations. The move sent AppLovin shares soaring 14% as investors breathed a collective sigh of relief.
"Descriptions asserting direct connections between Mr. Tang and Chen Zhi, Prince Group, Jin Bei Group, Tang Jun, and Yang Zhihui were inaccurate and failed to meet our publication standards," CapitalWatch wrote in its apology posted on X.
