Applied Digital Corp (APLD US, +1, 19-Oct-26)

Wesley Cummins (Chairman & Chief Executive Officer since Mar 2021, first joined 2007) bought $1 million worth of stock on October 16th at $18.04. This is his first purchase since early 2023, when he spent $1.7 million at prices ranging from $2.34 to $6.17. His last trade was a $6 million option-related sale in January 2026 at $36. He now holds 8% of the company. 

Jason Zhang (President since Jan 2026, first joined 2022) bought 300,000 shares on October 16th at $18.86, spending $5.6 million. He is the President and a co-founder, now holds $51 million in stock (including RSUs), and this is his first open-market purchase. 

The stock has declined sharply, and these purchases appear confident. This is also the first insider buying from any insider since early 2023, when the stock was at 1/3 of its current price. 

We are ranking the stock +1 (strongly positive).

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