Why Investors Shouldn’t Be Surprised By IREN Limited’s (NASDAQ:IREN) 46% Share Price Surge
IREN Limited (NASDAQ:IREN) shares have continued their recent momentum with a 46% gain in the last month alone. The annual gain comes to 170% following the latest surge, making investors sit up and take notice.
Since its price has surged higher, IREN’s price-to-sales (or “P/S”) ratio of 14.7x might make it look like a strong sell right now compared to other companies in the Software industry in the United States, where around half of the companies have P/S ratios below 5.1x and even P/S below 2x are quite common. However, the P/S might be quite high for a reason and it requires further investigation to determine if it’s justified.
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