Why Investors Shouldn’t Be Surprised By Applied Digital Corporation’s (NASDAQ:APLD) 28% Share Price Surge
Despite an already strong run, Applied Digital Corporation (NASDAQ:APLD) shares have been powering on, with a gain of 28% in the last thirty days. The last 30 days were the cherry on top of the stock’s 338% gain in the last year, which is nothing short of spectacular.
Since its price has surged higher, when almost half of the companies in the United States’ IT industry have price-to-sales ratios (or “P/S”) below 2.4x, you may consider Applied Digital as a stock not worth researching with its 29x P/S ratio. Nonetheless, we’d need to dig a little deeper to determine if there is a rational basis for the highly elevated P/S.
