Applied Digital Stock Rallies As Company Appoints New COO: Retail Extremely Bullish
By Stocktwits Inc | First Published Jan 7, 2025, 1:03 AM ISTTech giant Nvidia, along with other investors, backed Applied Digital in a $160 million funding round in September.
Shares of Applied Digital Corp. (APLD) gained in mid-day trade on Monday after the company announced the appointment of a new Chief Operating Officer (COO).
Laura Laltrello will be the new COO of the Dallas, Texas-based company that specializes in the construction and operation of data centers.
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Laltrello will lead the company’s strategic initiatives, especially in growing AI-driven digital infrastructure.
“We are pleased to welcome Laura as we expand our Applied Digital leadership team with a focus on dedicated skills and expertise to complement our existing strengths and drive innovation across all areas of our business,” said Wes Cummins, Chairman and CEO of Applied Digital.
Applied Digital constructed 480 megawatts over the past 18 months, and has a capacity of 400 megawatts currently in active construction. The company also noted it has 2 gigawatts of future site pipeline.
Tech giant Nvidia Corp. (NVDA), along with other investors, backed Applied Digital in a $160 million funding round in September.
Applied Digital’s shares surged more than 7% in Monday trade as investors cheered Laltrello’s appointment.
The company is scheduled to hold its Dec. 2024 quarter conference call on Jan. 14.
Retail sentiment on Stocktwits was in the ‘extremely bullish’ (86/100) territory, while message volume was in the ‘high’ (61/100) region as users reacted to Laltrello’s appointment.
However, one user thinks that short sellers are still in “control” despite Monday’s surge.
Another user thinks Applied Digital’s stock could surge to $20 to $30 after the Jan. 14 conference call.
Applied Digital share price has gained over 36% in the past six months, while its one-year gains stand at more than 28%.
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