Applied Digital Corporation (APLD) is experiencing a notable rise in its stock price today, driven by a broader market shift favoring small-cap technology stocks. The Russell 2000 index, which tracks smaller companies, has outperformed the S&P 500 since the recent election, indicating renewed investor interest in small-cap stocks. This rotation comes as investors seek opportunities in innovative technology companies that were previously overshadowed by larger tech firms during the AI boom. Applied Digital, which has been transitioning from a crypto infrastructure provider to a leading AI computing platform, is well-positioned to benefit from this market trend.
The current price of Applied Digital Corporation's stock is $10.85, reflecting an 8.07% increase from its previous close of $10.04. The stock opened at $10.24 and has seen a 5.96% rise from the opening price.