Aug. 17 at 1:28 PM
$IREG IREN Stock: Earnings Could Spark Big Move as Short Interest Reaches 26%
IREN (NASDAQ:IREN) has rebounded this month, moving from the July low of
$28.80 to a high of
$49. It ended the week at
$44, with its volatility expected to rise in the coming days as traders position themselves for the upcoming earnings on August 27.
Nebius, CoreWeave Earnings Provided Color to IREN’s Performance
Top companies in the neocloud industry have reported strong financial results recently. CoreWeave (NASDAQ:CRWV) and Nebius (NASDAQ:NBIS) said that their revenues jumped by triple digits, with their backlog soaring to record levels. These numbers mean that demand in the sector is soaring, with Nebius saying that it could sell out its 2027 capacity today.
IREN inked a
$9.3 billion deal with Microsoft last year, and in July, it inked a
$2.8 billion deal with companies like Figure AI, Fluidstack, Fireworks AI, and Hume AI. Following this deal, the company boosted its expected ARR to over
$4 billion.