Why Applied Digital Stock Is Sinking Today
Shares of Applied Digital (NASDAQ: APLD) are falling on Tuesday, down 7.8% as of 2:53 p.m. ET. The drop comes as the S 500 (SNPINDEX: ^GSPC) gained 0.2% while the Nasdaq Composite (NASDAQINDEX: ^IXIC) fell 0.2%.
The artificial intelligence (AI) data center operator announced another major capital raise on Monday. The $2.35 billion it intends to raise will fund the construction of two data center facilities at its Polaris Forge campus in Ellendale, North Dakota.
Source Fool.com
