Applied Digital (NASDAQ: APLD) insiders have been buying the dip as the artificial intelligence (AI) stock continues to slide. The company's CEO and president bought a combined $6.7 million worth of shares on Oct. 16. Despite the insider buying, Applied Digital is down by more than 30% over the past month. No doubt, sentiment around AI stocks has soured lately, but that doesn't mean fundamentals have weakened. These are some details to consider when deciding whether Applied Digital is a buy. Image source: Getty Images.
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