IREN: Buy The Series Of Unfortunate Events
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Tech Stock ProsInvesting Group LeaderFollow5ShareSavePlay(10min)Comments(3)SummaryIREN Limited is down 54% from its high of $76.41, crashing another 10% this Monday morning.The best time to pick up a high-risk, high-reward AI name like IREN is when everyone hates it, and that's where IREN is.IREN is a stock to trade rather than hold long term, and at current levels, we see more upside potential for IREN from its potential 2.91 GW capacity.The company is still very much in a transition phase from bitcoin mining to AI infrastructure but with headwinds hitting rivals like CoreWeave and Core Scientific, we see room for IREN to benefit. UniqueMotionGraphics/iStock via Getty Images IREN Limited (IREN) shares have shed over 54% since their high of $76.41 per share, with the stock crashing as much as 10% on Monday, shown below, and another 4% Tuesday. The crash has theThis article was written byTech Stock Pros12.03K FollowersFollowTech Stock Pros is a team of three former technology sector engineers with a long history of investing in the tech sector. They run Tech Contrarians, an investing group providing institutional-level company research to individual investors. Utilizing a live portfolio with quarterly updates, bi-weekly newsletters, and answering questions daily via chat, Tech Stock Pros aims to demystify investing in the technology sector. Learn more.Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in IREN over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.