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Faisal Humayun Khan

CHRN Stock Just Started Trading as Applied Digital Spins Off ChronoScale. How to Play Shares Here.

Applied Digital

Spin-offs have a history of creating value. In the last five years, the S&P 500 Index ($SPX) has delivered annualized returns of almost 11.8%. During the same period, the S&P U.S. Spin-off Index has recorded annualized returns of 15.4%. That makes promising spin-off stories enticing to pay attention to.

Recently, Applied Digital (APLD) announced the closing of its transaction spinning off its cloud business to EKSO Bionics. Subsequently, EKSO changed its name to ChronoScale (CHRN), with the cloud business becoming a wholly-owned subsidiary.

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