Short seller Fuzzy Panda alleged that the AXON model was "the nexus of a House of Cards" built on fraudulent advertising tactics.

Fuzzy Panda Research and Culper Research have taken a short-selling stance on Applovin (APP), alleging that the mobile app designer "force feeds" other mobile app downloads onto a user's device. The stock has fallen lower on Wednesday ahead of the close.

Shares in Applovin (APP) dropped sharply, after two bearish research firms issued critical reports on the mobile-advertising technology company, [whose stock has been on a hot streak](