Here's Why I Wouldn't Touch Applied Digital With a 10-Foot Pole

McKinsey projects global data center investments will hit nearly $7 trillion by 2030, and every tech giant from Microsoft to Meta is scrambling to secure capacity. Applied Digital (NASDAQ: APLD) has positioned itself as a pure-play beneficiary of this megatrend, and the stock has exploded over the past 18 months. But after digging into the financials and reading the fine print in their SEC filings, I'm staying far away. Despite the tailwinds at its back, three fundamental red flags make this stock far to ...