IREN ( (IREN) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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IREN shares extended their slide as traders focused on an expected quarterly net loss, even as the company reports very strong revenue growth. The drop also reflects investor worries about execution and financing risks tied to IREN’s large GPU procurement under a major cloud supply agreement, which some analysts say is weighing on valuations. At the same time, those analysts highlight that IREN has substantial available capital and recently raised fresh funds to strengthen its balance sheet and limit shareholder dilution, factors they see as partially offsetting the downside pressure on the stock.
More about IREN
YTD Price Performance: 58.43%
Average Trading Volume: 39,444,448
Technical Sentiment Signal: Buy
Current Market Cap: $20.61B
For further insights into IREN stock on TipRanks’ Stock Analysis page.
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