Browsing: IRENs

There aren’t many companies that can post a $684 million quarterly loss and still attract a cluster of fresh buy ratings within the same week. IREN has managed exactly that — and the gap between the headline numbers and the analyst chatter says less about accounting tricks than about how quickly the former Bitcoin miner…

The headline numbers from IREN’s fiscal fourth quarter look like the kind of red flags that send investors running for the exits. Revenue of $137.2 million came in well shy of the $157.14 million consensus estimate, while the bottom line showed a net loss of $684 million. Yet the stock has largely shrugged off the…

The stock chart told one story on Friday: a 12 percent slide that left shares at €30.80. The earnings release told another — one of a company that has quietly crossed a threshold its investors may not have fully registered.

The knee-jerk reaction to IREN’s latest earnings was easy to predict. A $684 million net loss in the fiscal fourth quarter, revenue down 26.7 percent, and a capital expenditure plan that could reach $30 billion — the headline numbers screamed caution. The stock duly fell 12 percent on Friday following the Thursday release, extending a…