Applied Digital Corporation (APLD) saw a significant price increase on November 25, 2024, closing at $10.68, up 8.43% from the previous close of $9.85. The stock opened at $10.37 and reached a high of $10.94, with trading volume surging to 28,003,519 shares, well above the average of 16,600,928. The rally was primarily driven by reports that Nvidia has acquired a stake in the company, sparking heightened interest among retail investors. This news propelled APLD into the top 10 most newly-watched symbols on Stocktwits, indicating strong social sentiment and investor enthusiasm.
The partnership with Nvidia is seen as a strategic move that could enhance Applied Digital's capabilities in high-performance computing and AI applications. Despite the excitement, some analysts caution that Nvidia's investment does not guarantee success, but the market's reaction suggests optimism about the potential synergies.