Why is Applied Digital Corporation (APLD) Stock down?
Shares of Applied Digital (APLD) dropped by 6.96% from $5.17 to $4.81 in the trading on Monday October 9, 2023. The reason why APLD stock down is due to the company's mixed first-quarter fiscal 2024 results, despite revenue soaring 425% to $36.3 million. However, the widened net loss of $9.6 million ($0.10 per share) compared to an expected loss of $0.04 per share on lower revenue of $33.8 million disappointed investors. Additionally, Applied Digital revised its full-year 2024 guidance, maintaining revenue projections of $385 million to $405 million, with cloud-computing segment revenue expected to come in later in the fiscal year.
Applied Digital's shares declined 11.9% from $6.78 to $5.97 as concerns arose among investors about the potential conclusion of the strong bull run in artificial intelligence (AI) stocks, influenced by Nvidia's impressive second-quarter results.
https://www.fool.com/investing/2023/08/24/why-applied-digital-stock-plummeted-today/
Applied Digital's shares fell 14.2% from $8.97 to $7.70 after The Bear Cave newsletter's Edwin Dorsey expressed skepticism, suggesting that the company relies more on exaggerated claims than substantial achievements.
https://www.fool.com/investing/2023/07/06/why-applied-digital-stock-dove-by-over-14-today/