This word is acceptable for play in the US & UK dictionaries that are being used in the following games:

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v. Third-person singular simple present indicative form of misdirect.

"Artificially lowering market interest rates by printing money misallocates resources and misdirects economic activity."

misdirected    misdirecting    misdirects   

direct    address    guide    conduct    take    lead   

guide    mismanage    pervert   

Brecht    Hecht    Select    affect    bedecked    checked    collect    confect    connect    correct