Why Applied Digital Stock Is Plummeting Today
Applied Digital (NASDAQ: APLD) stock is seeing another round of sell-offs Wednesday. The company's share price has declined 10% as of 3:10 p.m. ET amid the backdrop of a 0.1% decline for the S 500 and a 0.5% decline for the Nasdaq Composite.
The stock began falling after the company announced that it is pursuing another new round of fundraising. The announcement came on the heels of a press release detailing a proposal for raising $2.35 billion through new secured senior notes.
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Source Fool.com
