Why Iren Stock Was Getting Clobbered This Week
(NASDAQ: IREN), a crypto miner that's been leaning harder into its data center operations, hasn't been an investor favorite over the past few trading sessions. It's struggling with several headwinds, notably the recent decline in the popularity of cryptocurrency, and a broad investor pull-back from artificial intelligence (AI)-linked companies (such as next-generation data center operators).
Compounding this, a prominent investment bank flagged several data center companies as promising investments, but Iren wasn't one of them. As of early morning Friday, the company's shares were down by nearly 11% week-to-date, according to data compiled by S&P Global Market Intelligence.
That researcher was white-shoe investment bank Goldman Sachs, which on Thursday initiated coverage of several data center stocks. The company's prognosticator Michael Ng was bullish on data center real estate investment trusts (REITs) and Digital Realty Trust, flagging them both as buys.
Source Fool.com
Iren SpA Stock
Our community is currently high on Iren SpA with 3 Buy predictions and 0 Sell predictions.
As a result the target price of 4 € shows a very positive potential of 57.85% compared to the current price of 2.53 € for Iren SpA.
