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On this episode of Stock Movers:
- Applovin (APP) stock surged Monday after a financial publisher retracted some of its most explosive claims regarding AppLovin's alleged connections to transnational crime syndicates.
Capitalwatch, a self-described independent news organization and publisher, accused AppLovin of serving as a "laundering machine" for illicit funds from Southeast Asia. It described major shareholder Hao Tang as the key facilitator of this scheme.
- Oracle (ORCL) shares extended their rebound on Monday, as ramped up capex spending by US technology giants helped soothe nerves over the threat posed to the company by developments in artificial intelligence. Shares in the software bellwether rallied as much as 12%, their biggest intraday rise since Sept. 10. Even with that move — which came on the heels of Amazon.com Inc.’s pledge to spend $200 billion this year on data centers, chips and other equipment — the stock is down around 50% from its September highs.
- Hims & Hers Health (HIMS) stocks fell after Novo Nordisk A/S said it’s suing Hims & Hers Health Inc. for making knock-offs of its obesity medicines, even as Hims scrapped plans to sell a copycat version of the Wegovy pill.
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