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via finance.yahoo.comMarkets

IREN falls 3.41% as rating cut follows slip in $4 billion ARR target

FROM THE WIRE · FINANCE.YAHOO.COM

This article first appeared on GuruFocus. IREN (NASDAQ:IREN) shares fell 3.41% to $20.68 as of 11:05 a.m. ET in regular trading on November 10, after CCB International lowered its rating on the AI cloud and bitcoin mining operator. The cut followed a reported JPMorgan…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishThe rating cut and delayed ARR target weigh on this AI cloud and bitcoin mining operator's shares.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01IREN shares fell 3.41% to $20.68 in morning trading after CCB International lowered its rating.
  2. 02AI cloud revenue nearly tripled to $200 million, while bitcoin mining revenue fell to $28 million.
  3. 03The fully contracted $4 billion ARR goal moves to January or possibly February 2027 from year-end 2026.
  4. 04Net debt jumped to $4.43 billion.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
IREN LimitedIRENStock19.50 USD+0.28%today -8.94%Negative BitcoinBTCUSDCrypto73,712.01 USD+0.15%today -2.01%Neutral
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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