Bear Cave joins Wolfpack Research, sees ‘problems’ at Applied Digital

In a recently published report, Edwin Dorsey writes that “The Bear Cave believes Applied Digital relies on puffery over substance and is a perfect case study on our market’s bizarre underbelly of reverse mergers, microcaps, and shell companies.” Saying it sees “problems” at Applied Digital, Bear Cave also notes that the shares are now up over 800% in the last twelve months as the company changed its name to focus on “next generation datacenters,” which made “a community of retail investors excited about the company’s ambition to ‘lead the datacenter evolution.'” Earlier this morning, Wolfpack Research also issued a short report on the name.