Applied Digital Stock Moves Higher on Spin-Off Buzz

Core Viewpoint - Applied Digital Corp (NASDAQ: APLD) plans to spin off its cloud business and merge with Ekso Bionics (EKSO) to form a new entity called "ChronoScale" [1] Group 1: Company Performance - APLD shares have experienced volatility, dropping from a 20-year high of $40.20 on October 16 to around $24.83, with recent trading near breakeven [2] - Since the beginning of the year, APLD's stock has increased by 225% [2] Group 2: Market Dynamics - The stock of Ekso Bionics (EKSO) has surged by 94.1%, reaching $10.60 [1] - Short interest in APLD is significant, representing 33.5% of the available float, indicating a high level of bearish sentiment [4] - It would take approximately three days for short sellers to cover their positions based on APLD's average trading volume [4]