IREN Stock Is Trending Friday: What's Going On?

Shares of IREN Ltd (NASDAQ: IREN) are falling sharply Friday after JP Morgan downgraded the stock from Neutral to Underweight. The downgrade is injecting caution into a stock that has been on a meteoric rise, putting the brakes on a rally that has exceeded 500% over the past six months.

What To Know: The sell-off contrasts with bullish sentiment from earlier in the week. Investors had celebrated IREN’s aggressive pivot to AI infrastructure, highlighted by a $674 million purchase of high-performance GPUs from Nvidia and AMD. The company also raised its outlook, targeting over $500 million in AI cloud annualized run-rate revenue by the first quarter of 2026.

That news prompted analysts at Roth Capital and Arete Research to issue buy ratings with price targets of $82 and $78, respectively. However, Friday’s move by JP Morgan suggests emerging concerns about valuation after the stock’s massive run, prompting investors to take profits.

Benzinga Edge Rankings: Benzinga Edge rankings highlight the stock’s profile, awarding it near-perfect scores for Growth (99.75) and Momentum (99.38) while assigning it a very low Value score of 3.64.

Technical Momentum: IREN’s current price of $41.86 reflects a daily decline of 9.57%. The stock is trading well above its 50-day ($24.72), 100-day ($17.85), and 200-day ($13.58) moving averages, suggesting a strong upward trend prior to this drop. Immediate support may be found near the recent low of $39.70, while resistance could be established around the high of $44.08.

Volume & Intraday: The trading volume of 48,392,023 shares significantly exceeds the average of 31,259,379, indicating heightened interest and volatility in the stock. The intraday range shows a high of $44.08 and a low of $39.70, reflecting a substantial price swing that could attract both buyers and sellers. This increased volume during a sharp price decline suggests potential for further movement in either direction.

How To Buy IREN Stock

By now you’re likely curious about how to participate in the market for IREN – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

If you’re looking to bet against a company, the process is more complex. You’ll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

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