We recently compiled a list of the 10 Firms Mirror Broader Market Downturn Ahead of 2025. In this article, we are going to take a look at where IREN Limited (NASDAQ:IREN) stands against the other firms that mirror broader market downturn ahead of 2025.
Ten companies mirrored a wider market downturn on Monday, as investors repositioned their portfolios in preparation for 2025.
On Monday, the Dow shed 0.97 percent or 418 points, while the S&P’s broader index decreased 0.95 percent or 56.48 points. The tech heavy Nasdaq registered the biggest decline, down 1.19 percent or 235.24 points.
In this article, let’s look at why some of the relatively larger-cap companies declined and what dragged down the performance of their shares.
A table full of technology, with bitcoin mining rigs and a laptop showing a financial graph.
IREN Limited (NASDAQ:IREN)
IREN Limited (NASDAQ:IREN) saw its stock price drop by 7.19 percent on Monday to finish the day at $9.94 each. In the past five and 30 trading days, the company also reported a decline of 15.33 percent and 21.24 percent in its valuations, respectively.
According to analysts, investors are on the sidelines awaiting the company’s expanding operations in Bitcoin mining, high-performance computing (HPC), and the booming AI sector.
An analysis by InvestingPro also recently said that IREN’s current valuation appears to be already “undervalued,” especially as it continues to make strides in expanding its operations and diversifying into the AI and HPC sectors.
The company also demonstrated impressive growth, with revenue surging 119.92 percent in the last twelve months and maintaining a robust gross profit margin of 87.67 percent, which could fuel a rally in the next few days.
Overall, IREN ranks 5th on our list of firms that mirror broader market downturn ahead of 2025. While we acknowledge the potential of IREN as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than IREN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.