🔴 IREN is trading 5.3% down today on dilution concerns and crypto weakness

IREN is trading 5.3% down at $47.81 as selling pressure continues following its recent convertible notes offering.

• The capital raise has sparked investor concerns regarding potential share dilution from the convertible notes.
• The decline tracks a softer crypto backdrop, with Bitcoin and Ethereum both trading lower, weighing on the mining sector.
• Sentiment remains pressured after several consecutive down sessions for the stock.