Applied Digital (NASDAQ: APLD) stock closed out Wednesday's trading with another day of explosive gains. The company's share price was up 29.6% at the end of the daily session.

Applied Digital stock rocketed higher today after B. Riley published new coverage on the company and dramatically increased its one-year valuation forecast. Investors are feeling bullish after the data-center specialist announced a major new deal with CoreWeave. Applied Digital stock is now up roughly 78% over the last week of trading.

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Source Fool.com