🔴 APLD is trading 6% down today after crypto weakness and business model skepticism

APLD is trading 6% down at $36.79 as the stock extends a sharp multi-day slide driven by crypto market weakness and broader risk-off sentiment.

• Digital assets are under pressure with BTC down 0.71% and ETH down 0.91%, while the Nasdaq has fallen 1.16%.
• The move follows renewed skepticism regarding the company's business model; the stock previously fell 8.04% on May 18 and 8.88% on May 15.