US cryptocurrency mining firm Applied Digital (APLD) experienced a significant stock price drop of nearly 30% following the release of underwhelming quarterly financial results. The company reported third-quarter sales of $52.9 million, falling over 18% short of anticipated figures. This disappointing performance triggered a sell-off, driving APLD's share price down to $3.86, representing a 28.14% decrease. Investors are likely concerned about the company's ability to meet future revenue projections. The drop reflects broader market sensitivity to earnings reports in the volatile cryptocurrency mining sector. Further analysis is needed to determine the precise factors contributing to the shortfall and the potential long-term impact on Applied Digital. ```
