IREN, which shifted from Bitcoin mining to AI computing power, saw its stock price plunge more than 40% in October.
It closed around $24 on Friday, its lowest level since May.
The stock has fallen this far, and the earnings report hasn't even come out yet.
The market is worried that expanding its AI data centers will cost a lot, and whether it will rely on debt or issue more shares to fund the expansion—and whether existing shareholders will be diluted.
Computing power stocks are highly volatile, and when the tech sector pulls back, they often take the hardest hit.
The company reports its quarterly results after U.S. markets close on Thursday, which will be available Friday morning Beijing time.
This time, there are two things to watch: whether AI computing power revenue is starting to materialize, and where the money for the expansion will come from.
If the financing plans are clearly explained, there could be plenty of room for a rebound after such a deep pullback. If not, the stock will probably test Friday's low again.
Two short-term levels to watch: around $29 above, where it reached during last Wednesday's rebound, and around $23 below, near Friday's low.
Are you more focused on its computing power orders or how it will raise funds?
$IREN
#美股财报 #AI computing power
It closed around $24 on Friday, its lowest level since May.
The stock has fallen this far, and the earnings report hasn't even come out yet.
The market is worried that expanding its AI data centers will cost a lot, and whether it will rely on debt or issue more shares to fund the expansion—and whether existing shareholders will be diluted.
Computing power stocks are highly volatile, and when the tech sector pulls back, they often take the hardest hit.
The company reports its quarterly results after U.S. markets close on Thursday, which will be available Friday morning Beijing time.
This time, there are two things to watch: whether AI computing power revenue is starting to materialize, and where the money for the expansion will come from.
If the financing plans are clearly explained, there could be plenty of room for a rebound after such a deep pullback. If not, the stock will probably test Friday's low again.
Two short-term levels to watch: around $29 above, where it reached during last Wednesday's rebound, and around $23 below, near Friday's low.
Are you more focused on its computing power orders or how it will raise funds?
$IREN
#美股财报 #AI computing power
