IREN is trading at $39.26 (-4.13%) in pre-market after closing at $40.95 on February 27, as escalating geopolitical conflict and a broader market selloff weigh on the stock.
- Global markets are reacting to US-Israel strikes on Iran and the closure of the Strait of Hormuz, which has sent oil prices surging 9-10% and pushed NASDAQ futures down 1.52%.
- The crypto sector remains under pressure with Bitcoin down 0.56% and Ethereum down 1.99% over the last 24 hours, compounding the downward trend seen on February 27.
- No company-specific news or earnings reports were identified as drivers for today's price action.