Why IREN Limited Sank Over 21% in November
Shares of Bitcoin miner-turned-AI neocloud IREN Limited (NASDAQ: IREN) sank 21.3% in November, according to data from S&P Global Market Intelligence.
The stock's decline wasn't necessarily due to anything IREN did wrong -- quite the contrary, actually. In fact, IREN only had positive news at the company level.
Still, overall concerns about the safety of the AI buildout harmed virtually all companies involved in building multi-billion-dollar data centers -- especially those dependent on the debt markets to raise capital for the effort.
Source Fool.com
