Applied Digital Shares Hit Over One-Year Low as CEO Says Capacity Needs Financing
Applied Digital shares fell to an over-one-year low in Monday morning trading. CEO Wes Cummins rejected the “neocloud” label and said more than half of the company’s data center capacity remains to be financed.
Applied Digital (APLD) shares dropped to an over-one-year low in Monday morning trade with CEO Wes Cummins pushing back against the “neocloud” label and flagging that more than half of its data center capacity is yet to be financed.“I wouldn't put us in the neo cloud class,” Cummins told CNBC in an…