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Why Applied Digital Stock Skyrocketed Again Today
The Motley Foolยท 2025-06-04 22:57
Group 1 - Applied Digital's stock experienced a significant increase, closing up 29.6% on Wednesday, and has risen approximately 78% over the past week [1][3] - B. Riley issued a new coverage report, reiterating a buy rating and raising the one-year price target from $8 to $15 per share, indicating a bullish outlook for the stock [3] - The company announced two 15-year lease agreements with CoreWeave, which is expected to generate around $7 billion in revenue [4] Group 2 - The recent deal with CoreWeave has positively impacted the company's market perception, establishing a solid revenue base and enhancing its valuation to approximately $3 billion [5] - The endorsement from CoreWeave is seen as a significant positive indicator for Applied Digital's future performance [5]