Why Applied Digital Stock Fell 15.2% This Week

Applied Digital (NASDAQ: APLD) saw its stock price drop 15.2% this week, as of Friday at 12:40 p.m. ET, according to S&P Global Market Intelligence. The stock had been down as much as 16.3% during the week. Applied Digital is now trading at about $6 per share.

The markets struggled this week, as the S 500 was down 2.2%, the Dow Jones Industrial Average dropped 2.2%, and the Nasdaq Composite plunged 2.8%, as of Friday at 12:40 p.m. ET.

Applied Digital runs data centers that provide digital infrastructure solutions for the high-performance computing (HPC) industry. It has been on a tear this year, with its stock price up nearly 225%, trading at $6 per share. It had peaked at over $10 per share in July, up more than 400%.

Source Fool.com