Why Applied Digital Stock Plummeted Today
Shares of Applied Digital (NASDAQ: APLD) saw big sell-offs in Thursday's trading. The data-center services stock closed out the daily session down 12%, according to data from S&P Global Market Intelligence. The S 500 and Nasdaq Composite indexes ended the day down 1.4% and 1.9%, respectively.
The market saw an uptick in bearish momentum today following the publication of Nvidia's second-quarter earnings report, and Applied Digital participated in the pullback. Interestingly, Nvidia actually reported fantastic Q2 results.
Following Nvidia's fantastic second-quarter release, investors are worried that the big bull run for artificial intelligence (AI) stocks may have run its course.
Source Fool.com
