Applied Digital stock jumps 15% today as ChronoScale spinoff plan and Jan. 7 earnings come into focus (APLD)
Applied Digital Corp shares rose 15.4% to $28.29 Friday after announcing plans to spin out its cloud business and merge it with EKSO Bionics to form ChronoScale, an AI-focused platform. The company’s fiscal Q2 results are due Jan. 7. Applied Digital will own about 97% of ChronoScale if the deal closes. The stock outperformed major indexes and sector peers.