Google Just Pulled the Plug on This Controversial Chinese App Maker
Cheetah Mobile's (NYSE: CMCM) stock recently plunged after Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google banned all of the Chinese app maker's products from its Play Store and advertising platforms late last week.
That purge, which swept away 45 of Cheetah's apps, was part of Google's removal of nearly 600 mobile apps which allegedly violated its ad policies. Cheetah generated nearly 23% of its revenue from Google's platforms in the first nine months of 2019.
This a devastating setback for Cheetah, which already lost nearly 60% of its market value over the past 12 months as its revenue plunged and operating losses widened. Cheetah plans to appeal Google's decision, but its rocky relationship with the tech giant indicates that the company could be in serious trouble.
Source Fool.com
