Why IREN Limited Plunged Over 20% in February
Shares of IREN, Limited (NASDAQ: IREN) plunged 23.8% in February, according to data from S&P Global Market Intelligence.
IREN has made a name for itself as one of the leading public "neoclouds," which are essentially Bitcoin (CRYPTO: BTC) miners that have pivoted to becoming AI data centers.
During February, the company reported fourth-quarter earnings that continued to show solid progress on its transformation plan; however, it appears Wall Street was looking for bigger and better things amid the hype around AI computing.
Source Fool.com
