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IREN Limited (NASDAQ:IREN) shares are trading higher Tuesday afternoon, staging a recovery following a volatile week for the broader technology sector. The stock is rebounding from a recent five-day, 16% slump, supported by strong fundamental catalysts involving major AI infrastructure partnerships.
What To Know: The bullish sentiment is primarily anchored by IREN’s recent announcement of a massive $9.7 billion AI cloud services agreement with Microsoft. The five-year deal involves deploying Nvidia GB300 GPUs across IREN’s 750MW campus in Texas.
Additionally, the company has secured a hardware agreement with Dell Technologies valued at approximately $5.8 billion to support this infrastructure expansion.
Investors are also weighing a strong fiscal first-quarter performance reported earlier this month. IREN delivered earnings per share of $1.08, beating consensus estimates of 14 cents, alongside revenue of $240.29 million.
Optimism remains high as co-CEO Daniel Roberts recently teased further growth, citing “appetite from a number of parties” for capacity well beyond the current Microsoft agreement.
While the broader market faces headwinds from fading rate cut hopes, IREN's pivot to high-performance AI computing continues to attract significant investor interest, with analyst price targets reaching as high as $136.
Benzinga Edge Rankings: Adding to the stock’s dynamic profile, Benzinga Edge rankings assign IREN a near-perfect Momentum score of 99.37, indicating intense buying velocity despite a “Short” term negative price trend.
IREN Price Action: IREN shares were up 4.58% at $49.58 at the time of publication on Tuesday, according to Benzinga Pro data.
Read Also: Tech Selloff Resumes As Fed Rate Cut Hopes Fade: Palantir Eyes Worst Month Since 2023
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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Posted In: IREN
