Movement Alert|APPLIED DIGITAL CORP Falls 5.38% in Pre-Market Trading, Morgan Stanley Target Cut Adds Pressure Amid Sector Weakness

Market Focus
Nov 10

On November 10, APPLIED DIGITAL CORP fell 5.38% in Pre-Market Trading, trading at $15.88/share, with turnover of $3.86 million.

The move followed a Morgan Stanley price-target reduction to $25 from $41 while maintaining an Equal Weight rating, pressuring near-term sentiment.

The decline also came as Internet Services & Infrastructure names weakened broadly, with CoreWeave falling 4.7%, Cloudflare falling 2.53%, Snowflake falling 2.0%, Shopify falling 1.35%, and Akamai falling 0.69%. Earlier, APPLIED DIGITAL CORP had reported fiscal Q1 revenue of $341.9 million, up 322% year over year, but market discussion has continued to focus on financing needs and execution risks tied to expansion.

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