APLD is trading 8.3% down at $39.02, extending a sharp downward trend as the stock faces pressure from both sector-specific weakness and analyst skepticism.
- The decline follows a bearish Seeking Alpha report released on May 15 that questioned Applied Digital’s market positioning while favoring competitor Core Scientific.
- Today’s move is being compounded by a 2–4% pullback in Bitcoin and Ethereum, which is weighing heavily on crypto-exposed equities despite relatively flat performance in major market indices.