IREN is trading at -5.76% now at $37.82 amid a continued pullback from recent highs, following a pattern of declines linked to capital raises and AI infrastructure funding concerns.
- The decline follows a prior 5% drop linked to a $2.3B convertible notes announcement.
- The downside pressure appears company-specific, as the broader market (S&P 500 +0.54%) is rebounding.
- Crypto markets are mildly up (BTC +0.95%, ETH +1.42%), suggesting the decline is not sector-driven.