Tesla, Progress Software, Dyne Therapeutics And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 01 2025
0mins
Should l Buy IREN?
Source: Benzinga
U.S. Stock Market Overview: U.S. stock futures are down, with the Dow futures dropping about 0.1%. Tesla shares fell 4.6% in pre-market trading after CEO Elon Musk criticized President Trump's spending bill and hinted at forming a new political party.
Other Stocks Performance: Several stocks experienced declines in pre-market trading, including Greenlane Holdings (-18.7%), Dyne Therapeutics (-12.9%), and Insulet Corporation (-6.7%), among others, following various announcements and market reactions.
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Analyst Views on IREN
Wall Street analysts forecast IREN stock price to rise
12 Analyst Rating
8 Buy
2 Hold
2 Sell
Moderate Buy
Current: 38.840
Low
39.00
Averages
80.40
High
136.00
Current: 38.840
Low
39.00
Averages
80.40
High
136.00
About IREN
IREN Limited is an Australia-based company, which owns and operates data centers powered by 100% renewable energy. Its facilities are optimized for Bitcoin mining, artificial intelligence (AI) cloud services, and other power-dense compute. Its data center mining facilities are in Canal Flats, Mackenzie, Prince George and Childress. Bitcoin Mining provides security to the Bitcoin network. Al Cloud Services provides cloud compute to Al customers, approximately 1,896 NVIDIA H100 and H200 GPUs. Its Canal Flats facility is in the Canadian Rockies, 100 kilometers (km) from Cranbrook regional airport and 500km east of Vancouver. Its facility is in Prince George, the city in northern British Columbia, located 500 km north of Vancouver. Its facility is located in Childress County, Texas, over 250 miles northwest of Dallas and in close proximity to multiple wind and solar generating facilities in the region. Its Childress operations comprise 200 Mega Watt of operating data centers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
IREN Shares Plunge 23.8% Amid Earnings Report
- Earnings Performance: IREN reported fourth-quarter revenue of $184.7 million, a 59% year-over-year increase, while adjusted EBITDA rose 20.7% to $75.3 million; however, the quarter-over-quarter decline reflects the company's strategic shift from Bitcoin mining to AI infrastructure investment.
- Market Reaction: Despite showing growth, investors were disappointed by the lack of new large-scale neocloud deals, particularly after a stock price increase in January, leading to heightened expectations for announcements similar to the partnership with Microsoft.
- Capacity Expansion: IREN secured an additional 1.6 GW of grid-connected land in Oklahoma, raising total capacity to 4.5 GW, yet with only 10% to 20% of current capacity leased, this expansion may raise questions about the scarcity of resources.
- Financing Situation: The company secured GPU-backed financing for the Microsoft deal at rates below 6%, and while skeptics criticize the deal's economics, if GPUs retain rental value beyond the five-year contract, IREN's discounted stock could represent a viable investment opportunity.
See More
IREN Shares Plunge Following Earnings Report Despite Positive Developments
- Earnings Performance: IREN reported fourth-quarter revenue of $184.7 million, a 59% year-over-year increase, with adjusted EBITDA at $75.3 million, up 20.7%, yet both metrics fell quarter-over-quarter, highlighting challenges in the company's transformation process.
- Strategic Shift: The company is intentionally reducing its Bitcoin mining operations to invest in AI infrastructure, which, while causing short-term financial declines, may enhance its competitive position in the long run.
- Market Reaction: Despite management's comments on multiple advanced negotiations for larger-scale deployments, investor disappointment over the lack of new large-scale deal announcements led to a 23.8% drop in stock price in February, indicating market sensitivity to growth expectations.
- Capacity Expansion: IREN secured an additional 1.6 GW of grid-connected land in Oklahoma, increasing total capacity to 4.5 GW; although only 10% to 20% of this capacity is currently leased, this expansion could support future growth opportunities.
See More
Stocks Surge Amid Optimism Over Iranian Geopolitical Conflict
- Geopolitical Easing: President Trump's suggestion that the conflict with Iran will be a 'short-term' excursion led to a strong market rebound after a blood-red opening, indicating a renewed investor appetite for risk and suggesting that stocks may have bottomed out.
- Oil Price Reversal: U.S. crude oil futures plummeted from $120 to below $90 per barrel, with the United States Oil Fund ETF (USO) seeing volume surge to 1,136% above the 50-day average, a violent reversal that often signals intermediate market tops, bolstering bullish sentiment in equities.
- Historical Bottom Timing: Stocks have historically bottomed in mid-March more frequently than any other time of year over the past two decades, and current market conditions may be aligning with this trend, attracting investor interest.
- Tech Stock Support: The Nasdaq 100 Index ETF (QQQ) retreated to its 200-day moving average for the first time since last year's bear market, with leading tech stocks like NVIDIA (NVDA) and Broadcom (AVGO) showing strong support, reflecting ongoing confidence in the tech sector.
See More
Analysis of Investment Opportunities in AI Stocks
- Vertiv's Market Potential: Vertiv's provision of liquid cooling solutions is crucial for the efficient operation of AI data centers, with revenue growth of 16.7% in 2024 and a remarkable 27.7% surge in 2025, while projecting a 27% to 29% year-over-year growth in 2026, indicating its sustained market share gains in a rapidly evolving sector.
- Iren's Order Growth: Iren's $9.7 billion deal with Microsoft provides 200 megawatts for its AI data center, and although no new customer orders have been announced recently, the addition of a 1.6 gigawatt facility in Oklahoma significantly enhances its future revenue potential, with expectations of over $40 billion in annual recurring revenue.
- Micron's Strategic Shift: Micron's exit from the consumer business allows it to focus on AI infrastructure, with a 57% revenue surge in Q1 and expectations to break multiple records in Q2, showcasing its strong growth potential in the high-margin AI market, while its current stock price remains undervalued.
- Investment Trends in AI Sector: As tech giants invest billions monthly in AI, investor interest in AI-related stocks continues to rise, particularly in companies like Vertiv, Iren, and Micron, which are expected to yield substantial returns for patient investors.
See More
IREN Plans to Raise $6 Billion for Capacity Expansion Amid AI Demand
- Funding Plan Defense: IREN Co-CEO Daniel Roberts stated on X Spaces that the company plans to raise up to $6 billion through equity financing, emphasizing that this is an optional funding method aimed at balancing various capital sources, including debt and customer prepayments, to support ongoing growth in AI and data centers.
- Market Sentiment Fluctuations: Over the past week, sentiment on Stocktwits regarding IREN fluctuated between 'bearish' and 'neutral'; although Roberts believes the funding plan will benefit shareholders, some investors remain concerned about equity dilution, leading to the stock closing in the red on multiple days.
- Diverse Capital Sources: Roberts highlighted that the company has raised $9.3 billion in the past eight months through prepayments, convertibles, and GPU financing, stressing the importance of flexibility and discipline, and indicating that future funding and growth will continue through a mix of these capital sources.
- GPU Procurement Plan: IREN also announced the purchase of 50,000 advanced GPUs from Nvidia, stating that payment will be due 30 days post-shipping, which will further enhance its competitive position in the AI data center sector.
See More
US Department of War Denies Negotiations with Anthropic AI
- Government Denial: The US Department of War has refuted any ongoing negotiations with AI startup Anthropic, which plans to challenge the government's designation of it as a national security 'supply chain risk,' potentially impacting its funding and market confidence.
- Congressional Scrutiny on China: Congressman John Moolenar urged the Treasury Secretary to exercise 'heightened scrutiny' of inbound investments from China, which could lead to stricter restrictions on Chinese businesses seeking market access in critical manufacturing sectors in the US, affecting US-China economic relations.
- Trump Administration's New Framework: The Trump administration is reportedly considering a new framework that would require foreign governments to invest in US data centers when exporting advanced AI chips, which could alter the dynamics of the global technology supply chain and impact international competition.
- Amazon Job Cuts: Amazon has reportedly cut additional jobs in its robotics division, reflecting structural adjustments as the company faces market challenges, which may affect its future innovation capabilities and competitive position.
See More
IREN Shares Plunge 23.8% Amid Earnings Report
- Earnings Performance: IREN reported fourth-quarter revenue of $184.7 million, a 59% year-over-year increase, while adjusted EBITDA rose 20.7% to $75.3 million; however, the quarter-over-quarter decline reflects the company's strategic shift from Bitcoin mining to AI infrastructure investment.
- Market Reaction: Despite showing growth, investors were disappointed by the lack of new large-scale neocloud deals, particularly after a stock price increase in January, leading to heightened expectations for announcements similar to the partnership with Microsoft.
- Capacity Expansion: IREN secured an additional 1.6 GW of grid-connected land in Oklahoma, raising total capacity to 4.5 GW, yet with only 10% to 20% of current capacity leased, this expansion may raise questions about the scarcity of resources.
- Financing Situation: The company secured GPU-backed financing for the Microsoft deal at rates below 6%, and while skeptics criticize the deal's economics, if GPUs retain rental value beyond the five-year contract, IREN's discounted stock could represent a viable investment opportunity.
See More
IREN Shares Plunge Following Earnings Report Despite Positive Developments
- Earnings Performance: IREN reported fourth-quarter revenue of $184.7 million, a 59% year-over-year increase, with adjusted EBITDA at $75.3 million, up 20.7%, yet both metrics fell quarter-over-quarter, highlighting challenges in the company's transformation process.
- Strategic Shift: The company is intentionally reducing its Bitcoin mining operations to invest in AI infrastructure, which, while causing short-term financial declines, may enhance its competitive position in the long run.
- Market Reaction: Despite management's comments on multiple advanced negotiations for larger-scale deployments, investor disappointment over the lack of new large-scale deal announcements led to a 23.8% drop in stock price in February, indicating market sensitivity to growth expectations.
- Capacity Expansion: IREN secured an additional 1.6 GW of grid-connected land in Oklahoma, increasing total capacity to 4.5 GW; although only 10% to 20% of this capacity is currently leased, this expansion could support future growth opportunities.
See More
Stocks Surge Amid Optimism Over Iranian Geopolitical Conflict
- Geopolitical Easing: President Trump's suggestion that the conflict with Iran will be a 'short-term' excursion led to a strong market rebound after a blood-red opening, indicating a renewed investor appetite for risk and suggesting that stocks may have bottomed out.
- Oil Price Reversal: U.S. crude oil futures plummeted from $120 to below $90 per barrel, with the United States Oil Fund ETF (USO) seeing volume surge to 1,136% above the 50-day average, a violent reversal that often signals intermediate market tops, bolstering bullish sentiment in equities.
- Historical Bottom Timing: Stocks have historically bottomed in mid-March more frequently than any other time of year over the past two decades, and current market conditions may be aligning with this trend, attracting investor interest.
- Tech Stock Support: The Nasdaq 100 Index ETF (QQQ) retreated to its 200-day moving average for the first time since last year's bear market, with leading tech stocks like NVIDIA (NVDA) and Broadcom (AVGO) showing strong support, reflecting ongoing confidence in the tech sector.
See More
Analysis of Investment Opportunities in AI Stocks
- Vertiv's Market Potential: Vertiv's provision of liquid cooling solutions is crucial for the efficient operation of AI data centers, with revenue growth of 16.7% in 2024 and a remarkable 27.7% surge in 2025, while projecting a 27% to 29% year-over-year growth in 2026, indicating its sustained market share gains in a rapidly evolving sector.
- Iren's Order Growth: Iren's $9.7 billion deal with Microsoft provides 200 megawatts for its AI data center, and although no new customer orders have been announced recently, the addition of a 1.6 gigawatt facility in Oklahoma significantly enhances its future revenue potential, with expectations of over $40 billion in annual recurring revenue.
- Micron's Strategic Shift: Micron's exit from the consumer business allows it to focus on AI infrastructure, with a 57% revenue surge in Q1 and expectations to break multiple records in Q2, showcasing its strong growth potential in the high-margin AI market, while its current stock price remains undervalued.
- Investment Trends in AI Sector: As tech giants invest billions monthly in AI, investor interest in AI-related stocks continues to rise, particularly in companies like Vertiv, Iren, and Micron, which are expected to yield substantial returns for patient investors.
See More
IREN Plans to Raise $6 Billion for Capacity Expansion Amid AI Demand
- Funding Plan Defense: IREN Co-CEO Daniel Roberts stated on X Spaces that the company plans to raise up to $6 billion through equity financing, emphasizing that this is an optional funding method aimed at balancing various capital sources, including debt and customer prepayments, to support ongoing growth in AI and data centers.
- Market Sentiment Fluctuations: Over the past week, sentiment on Stocktwits regarding IREN fluctuated between 'bearish' and 'neutral'; although Roberts believes the funding plan will benefit shareholders, some investors remain concerned about equity dilution, leading to the stock closing in the red on multiple days.
- Diverse Capital Sources: Roberts highlighted that the company has raised $9.3 billion in the past eight months through prepayments, convertibles, and GPU financing, stressing the importance of flexibility and discipline, and indicating that future funding and growth will continue through a mix of these capital sources.
- GPU Procurement Plan: IREN also announced the purchase of 50,000 advanced GPUs from Nvidia, stating that payment will be due 30 days post-shipping, which will further enhance its competitive position in the AI data center sector.
See More
US Department of War Denies Negotiations with Anthropic AI
- Government Denial: The US Department of War has refuted any ongoing negotiations with AI startup Anthropic, which plans to challenge the government's designation of it as a national security 'supply chain risk,' potentially impacting its funding and market confidence.
- Congressional Scrutiny on China: Congressman John Moolenar urged the Treasury Secretary to exercise 'heightened scrutiny' of inbound investments from China, which could lead to stricter restrictions on Chinese businesses seeking market access in critical manufacturing sectors in the US, affecting US-China economic relations.
- Trump Administration's New Framework: The Trump administration is reportedly considering a new framework that would require foreign governments to invest in US data centers when exporting advanced AI chips, which could alter the dynamics of the global technology supply chain and impact international competition.
- Amazon Job Cuts: Amazon has reportedly cut additional jobs in its robotics division, reflecting structural adjustments as the company faces market challenges, which may affect its future innovation capabilities and competitive position.
See More
