Applied Digital is trading at $25.53 (-4.09%) as investors digest its July 27 earnings update and a recent sharp rally amid broader technology sector weakness.
- The company reported 407% revenue growth to $258.7M and roughly $20B in new hyperscaler leases, but the stock has since turned lower from recent highs.
- The decline follows a broader downturn in the Nasdaq and semiconductor stocks, notably decoupling from Bitcoin, which is up 0.36% since the last close.