On August 24, IREN Ltd fell 5.22% in regular trading, trading at $39.805/share, with turnover of $334 million. The decline comes just three days before the company's fiscal year results release on August 27, with market consensus projecting quarterly revenue of approximately $142 million, representing a 23.71% year-over-year decline, and expected EPS of -$0.49, down 420.77% year-over-year.
The stock had rallied sharply in mid-August after delivering its Horizon 1 50-megawatt AI computing facility to Microsoft as part of its $9.7 billion cloud services contract, also achieving NVIDIA Exemplar Cloud status for its GB300 NVL72 deployment. However, since peaking above $46 on August 18, the stock has faced sustained profit-taking pressure. Options market activity in recent sessions has shown increasing multi-directional positioning, with large-scale put purchases and straddle strategies reflecting institutional uncertainty heading into the earnings event.
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