Why Applied Digital Stock Blasted Nearly 14% Higher Today
Investors' thus-far unquenchable thirst for companies involved with artificial intelligence (AI) showed no sign of weakening at the beginning of this trading week. That benefited data center operator Applied Digital (NASDAQ: APLD) Monday, as did an analyst's price target hike. These two factors helped drive the company's share price almost 14% higher on the day.
Before the market opened Monday, Craig-Hallum prognosticator George Sutton upped his price target on Applied Digital stock from $13 per share to $15 per share. Sutton also maintained his buy recommendation on the shares.
The analyst appeared particularly impressed by Applied's effectiveness in sales.
Source Fool.com
