- One bearish user predicted the stock to go down to $20 levels soon.
- Iren earlier in the month announced that it has entered into purchase agreements for over 50,000 Nvidia (NVDA) B300 GPUs that will expand its total fleet to 150,000 GPUs.
Shares of IREN Ltd (IREN) fell 7% on Friday and garnered traders’ attention who see further 41% downside to current trading levels.
Traders see a major billion dollar deal as a key catalyst for the stock to rally again.
Retail Take
Retail sentiment around IREN trended in ‘neutral’ territory amid ‘normal’ message volume.
One bearish user predicted the stock to go down to $20 levels soon.
Another bearish user predicted the stock would go in free fall once it breaks below $30.
Another user said that only a $10-15 billion deal can make the stock bounce again.
Recent News
IREN earlier in the month announced that it has entered into purchase agreements for over 50,000 Nvidia (NVDA) B300 GPUs that will expand its total fleet to 150,000 GPUs. It expects to deploy the additional GPUs in phases through the second half of 2026 across its existing air-cooled data centers in Mackenzie, British Columbia and Childress, Texas.
The 150,000 GPU fleet is expected to support AI Cloud annualized run-rate revenue of over $3.7 billion by the end of 2026. Existing data centers at Canal Flats and Childress provide capacity to support additional GPUs over time.
Iren has also secured $9.3 billion of funding in the past eight months across customer prepayments, convertible notes, GPU leasing and GPU financing. The company expects to leverage these and other capital sources to finance approximately $3.5 billion of additional capex for these orders expected in the second half of 2026.
IREN was added to the MSCI USA Index in February.
Shares in the company have fallen 10% so far this year.