Why IREN Stock Is Trading Higher Thursday?
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IREN Limited (NASDAQ:IREN) stock surged on Thursday after the settlement of a $2.6 billion capital raise through convertible senior notes. This capital will support the company's transition into AI infrastructure. Analysts are divided, with Macquarie raising its price forecast to $90 while JPMorgan increased its forecast to $46. Short interest in IREN has decreased, and the stock is trading significantly above its major moving averages, indicating a bullish trend. IREN shares were up 4.89% at $57.87 during the trading session.
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