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Applied Digital Stock Soars 220% Amid Major Leasing Deals

9/23/2025

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Summary

Story summary

Applied Digital (APLD) stock is up 220% YTD after an $11B leasing deal with CoreWeave.
CEO Wes Cummins sold 400,000 shares, triggering September volatility.
Secured three 15-year contracts for 400MW at Polaris Forge 1, North Dakota.
Polaris Forge 2 is a $3B project targeting completion in 2027.
Analysts' targets range $13-$30; the stock trades at 13.5x price-to-sales, signaling sustainability concerns.

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Story summary

Applied Digital (APLD) stock is up 220% YTD after an $11B leasing deal with CoreWeave.
CEO Wes Cummins sold 400,000 shares, triggering September volatility.
Secured three 15-year contracts for 400MW at Polaris Forge 1, North Dakota.
Polaris Forge 2 is a $3B project targeting completion in 2027.
Analysts' targets range $13-$30; the stock trades at 13.5x price-to-sales, signaling sustainability concerns.