Applied Digital Corporation is trading 10.1% down at $39.70 amid heavy selling in high-beta tech and crypto-linked names following stronger-than-expected U.S. jobs data.
- Broader risk assets are under pressure as robust labor market data pushed expectations for interest rate cuts further into the future.
- Sharp declines in Bitcoin and Ethereum are weighing heavily on digital-asset infrastructure plays, extending the stock's pullback from its recent multi-month rally.