Why Applied Digital Stock Is Sinking Today
Applied Digital (NASDAQ: APLD) stock is getting hit with selling pressures Thursday. The data-center company's share price was down 5.4% as of noon ET amid the backdrop of a 0.3% gain for both the S 500 and the Nasdaq Composite. The tech stock had been off as much as 9.8% earlier in the session.
Applied Digital posted its fiscal Q3 results after yesterday's market close, reporting sales and earnings that exceeded Wall Street's targets. Unfortunately, the market wasn't happy with all aspects of the report -- and shares are selling off today.
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Source Fool.com
