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News  ›  The Motley Fool

Applied Digital Director Sells $2.6 Million in Stock Amid 400% Rally

The Motley Fool Logo The Motley Fool By Jonathan Ponciano
Applied Digital Director Sells $2.6 Million in Stock Amid 400% Rally

Chuck Hastings, a director at Applied Digital Corporation, sold 75,000 shares for $2.6 million last week, reducing his stake by 15%. The company has seen a 412.7% stock price increase over the past year, driven by AI infrastructure and data center services.

Insights
JEF   neutral

Serving as joint book-running manager for the IPO, indicating standard business involvement


APLD   neutral

While the stock has seen massive growth (412.7% in a year), the director's stock sale and the company's current unprofitability suggest potential volatility and execution risks in the AI infrastructure market