00:00 Speaker A
Now time for some trending tickers. Let’s start with App11. Those shares are bouncing back today following a fall of 20% on Thursday. That drop coming after a report from short seller muddy waters research that it had taken a short position in the stock. App11 now says it has hired a law firm to investigate short seller activity and the company CEO is urging investors to quote, dig deeper, given the AI tools available today and that it’s quote, easy to discredit a short report like this in minutes. This coming in part from a blog posting by the CEO because one of the things in these short reports, and by the way, Muddy Waters was just the latest in a series of them, that has talked about that the company’s measurements of its own ad metrics are not accurate. That’s what has been called into question. App11 has come out and defended them.
01:28 Speaker B
Yeah, this is one of those names too, Julie. We talked about, it had just a monster run in 2024, huge move. But the short sellers have been out. The street was interesting, it’s really stuck with this name. The analysts who covered the name are overwhelmingly bullish still. The CEO did say in his statement, I see here to Bloomberg, we will take all necessary steps to ensure the facts are known, protect our employees, stockholders, and partners.
02:26 Speaker A
Yeah. And loop, by the way, to your point about analysts, loop would be aggressive buyers on weakness here with a significant expansion cycle underway.
02:50 Speaker B
They like it, they are fans.
