🔴 Applied Digital is trading 4.1% down today amid a broad crypto selloff and AI infrastructure weakness

Applied Digital is trading at $29.86 (-4.14%) following a broad selloff in crypto-linked and AI infrastructure names.

• The decline coincides with a retreat in major cryptocurrencies, with Bitcoin down 2.30% and Ethereum falling 2.56%.
• Broader technology sentiment is also weaker today, with the XLK sector ETF trading down 1.92%.
• The stock has faced additional pressure in recent sessions following a disclosure regarding a margin-backed stake from a major holder.