Streetbeat News

APLD

Applied Digital Corporation

https://www.applieddigital.com

Industry

Financial - Capital Markets

Applied Digital Corporation designs, develops, and operates datacenters in North America. Its datacenters provide digital infrastructure solutions to the performance computing industry. The company was formerly known as Applied Blockchain, Inc. and changed its name to Applied Digital Corporation in November 2022. Applied Digital Corporation was incorporated in 2001 and is based in Dallas, Texas.

Open

7.01

Mkt cap

1.6B

Volume

22M

High

7.57

P/E Ratio

-5.88

52-wk high

9.48

Low

6.90

Div yield

N/A

52-wk low

2.36

US stocks traded lower with the Dow Jones dropping over 450 points. Applied Digital Corporation (APLD) dipped 14.1% after a short report by Wolf Pack Research. Affirm Holdings (AFRM) dropped 14% following a downgrade from Piper Sandler. Other stocks that recorded losses include SoundHound AI (SOUN), BioXcel Therapeutics (BTAI), ProKidney Corp (PROK), Offerpad Solutions (OPAD), Calliditas Therapeutics (CALT), Exscientia (EXAI), Aurora Innovation (AUR), Sunrun (RUN), Archer Aviation (ACHR), Joby Aviation (JOBY), Wallbox (WBX), Stem (STEM), Peloton Interactive (PTON), Rocket Companies (RKT), Upstart Holdings (UPST), Ginkgo Bioworks Holdings (DNA), Wayfair (W), Block (SQ), Rackspace Technology (RXT), Teladoc Health (TDOC), and Twilio (TWLO).

Portfolio Pulse from Lisa Levin

July 06, 2023 | 4:49 pm

Applied Digital Corp (NASDAQ:APLD) shares are trading lower following multiple short reports from Wolf Pack Research and the Bear Cave. The reports highlight the company's shift from Bitcoin mining to AI cloud services, questioning its credibility. The involvement of B. Riley Asset Management and its president, Wes Cummins, who is also the CEO of Applied Digital, was noted. The company's shares have risen over 800% in the past year, largely due to retail investor interest.

Portfolio Pulse from Adam Eckert

July 06, 2023 | 3:54 pm

Shares of Applied Digital Corporation are trading higher following the release of short reports on the stock by Wolf Pack Research and The Bear Cave.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 2:59 pm

The Bear Cave has released a short report on Applied Digital (NASDAQ:APLD), questioning the company's credibility. The report highlights the company's history of pivoting between different industries and its reliance on 'puffery over substance'. The company, which claims to design and operate next-generation datacenters, has seen its shares rise by over 800% in the last twelve months, largely due to retail investor interest. The report also notes that the company's CEO, Wes Cummins, controls roughly 25% of the company's voting shares.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 2:32 pm

Wolf Pack Research has published a short report on Applied Digital (APLD), titled 'APLD: An Embarrassing And Predictable Stock Promotion'. The report is expected to have a negative impact on the company's stock.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 2:11 pm

Applied Digital Corporation (APLD) has partnered with Hewlett Packard Enterprise Company (HPE) to deliver energy-efficient supercomputers for large-scale AI applications. Applied Digital will use HPE's HPE Cray XD supercomputers, featuring NVIDIA H100 GPUs, to enhance its AI Cloud service. The partnership aims to provide customers with high performance, cost-effective solutions for compute and data-intensive needs.

Portfolio Pulse from Nabaparna Bhattacharya

July 03, 2023 | 11:20 am

Applied Digital Corporation has announced a collaboration with HPE to deliver AI cloud services, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

June 30, 2023 | 7:43 pm

Applied Digital Corporation (APLD) has announced a collaboration with Hewlett Packard Enterprise (HPE) to deliver AI cloud services. HPE will provide its supercomputers to support large-scale AI through Applied Digital's AI cloud service. Applied Digital will use HPE Cray XD supercomputers to enhance its AI Cloud service and support critical workloads such as AI, machine learning, and HPC tasks. The partnership comes as Applied Digital continues to expand its capacity pipeline for its HPC data centers.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 12:04 pm

During Thursday's intraday session, several information technology stocks experienced significant movement. Arlo Technologies (ARLO), Nano Dimension (NNDM), AuthID (AUID), Inseego (INSG), Microvision (MVIS), and Applied Digital (APLD) saw their shares increase by 13.8%, 13.48%, 10.94%, 10.48%, 10.29%, and 9.5% respectively. On the other hand, GSI Technology (GSIT), XIAO-I (AIXI), Rackspace Tech (RXT), Infobird Co (IFBD), and ChipMOS TECHNOLOGIES (IMOS) saw their stocks fall by 18.8%, 11.77%, 10.24%, 9.22%, and 8.48% respectively.

Portfolio Pulse from Benzinga Insights

June 29, 2023 | 5:38 pm

B. Riley Securities analyst Lucas Pipes maintains a 'Buy' rating on Applied Digital (NASDAQ:APLD) and raises the price target from $17 to $18.

Portfolio Pulse from richadhand@benzinga.com

June 28, 2023 | 1:45 pm

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