Why Applied Digital Stock Saw Big Pullbacks But Has Bounced Back Today

Applied Digital (NASDAQ: APLD) stock has seen another day of big volatility in Friday's trading. The company's share price was down 0.3% as of 3:15 p.m. ET amid the backdrop of a 0.1% pullback for the level of the S&P 500 and a 0.6% decline for the Nasdaq Composite. The stock bounced back after having been down as much as 9.9% earlier in trading.While there doesn't appear to be any business-specific catalyst behind Applied Digital's valuation volatility, the stock is losing ground in conjunction with wavering confidence in the near-term outlook for artificial intelligence (AI) stocks and bearish macroeconomic indicators.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool