Here’s why the IREN stock price has crashed and why it may hit $20 soon — TradingView News
The IREN stock price made a strong bearish breakout on Monday as it plunged to its lowest level since September this year. It has now erased some of the gains it made a few months ago when it jumped from $5 to $76. This article explores why the IREN share price has crashed and the next key level to watch.
IREN stock is crashing amid AI jitters
The main reason why the IREN stock price is in a deep bear market is the ongoing jitters surrounding the artificial intelligence industry, which is starting to show cracks.
These cracks intensified last week when Oracle published its quarterly financial results. While its revenue and backlog growth were strong, its debt soared, and free cash flow turned negative.
These results pushed most AI stocks…
