US Stock Movement | Applied Digital rose over 10%, with a cumulative increase of 723% since May

On Monday, Applied Digital rose over 10%, continuing to set new historical highs, with a cumulative increase of 723% since May. In terms of news, the company recently reported first-quarter revenue that exceeded Wall Street expectations, despite still recording a net loss, demonstrating strong growth momentum. In the quarter ending August 31, the company's revenue grew 84% year-on-year, reaching $64.2 million, surpassing analysts' previous expectations of $50 million. The adjusted loss per share was 3 cents, better than analysts' expected loss of 13 cents. Analysts raised Applied Digital's 2026 revenue forecast to $299 million, a year-on-year increase of 72%, and lowered loss expectations, with the target price increased by 59% to $39.89