Why Applied Digital Stock Soared Again Today
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Applied Digital (APLD) stock surged 8.5% on Friday, continuing a trend that has seen its share price more than double in a week. This rise follows a positive jobs report from the Bureau of Labor Statistics, which indicated the U.S. economy added 139,000 jobs in May, surpassing expectations. The report's revisions suggest modest economic growth, increasing the likelihood of Federal Reserve interest rate cuts, which could benefit growth stocks like Applied Digital. The company also announced a significant data-center lease agreement with CoreWeave, expected to generate over $7 billion in sales.
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