Applied Digital Corporation ( (APLD) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Applied Digital Corporation’s stock experienced a significant surge, reaching a new 52-week high. This upward movement is driven by increased interest in AI stocks, particularly after Nvidia’s recent investment in the company, which has excited traders given Nvidia’s strong influence in the AI sector. Earlier in the year, the stock faced challenges due to new AI model releases, but it has rebounded with a notable 33.25% increase year-to-date. The trading volume also spiked to nearly 39 million shares, well above the daily average, highlighting the growing interest. Analysts continue to recommend buying the stock, with an average price target of $12.88, suggesting further potential gains.
More about Applied Digital Corporation
YTD Price Performance: 30.51%
Average Trading Volume: 21,531,063
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.27B
For further insights into APLD stock on TipRanks’ Stock Analysis page.
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