RILY - Applied Digital falls amid new short call from The Friendly Bear

2023-07-28 11:22:48 ET

Applied Digital ( NASDAQ: APLD ) fell 4% amid a new short call from The Friendly Bear.

The Friendly Bear highlighted governance issues with Applied Digital in its short report as well as its relationship with B. Riley ( RILY ). Friendly Beari is short Applied Digital ( APLD ) and B. Riley.

The latest short report on Applied Digital ( APLD ) comes after the shares surged over 30% on Monday and Tuesday as the company issued a stronger-than-expected forecast for fiscal 2024. Earlier this month, Wolfpack Research and The Bear Cave r eleased short reports on Applied Digital.

Applied Digital's ( APLD ) shares have gained over 400% this year.

Applied Digital ( APLD ) and B. Riley ( RILY ) didn't immediately respond to Seeking Alpha's email request for comment.

Applied Digital's ( APLD ) short interest is 22%.

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