Is IREN Stock a Buy After Its 21% Slide This Week?

TLDR IREN stock closed Friday at $24.90, down 2% on the day and down 21% over five days. The stock hit a new 52-week low earlier this week and is down 46% over the past year. High borrowing cost worries in the neocloud and tech sector drove the selloff. JPMorgan raised its target to $65 and BTIG kept an $80 target, while Jones Trading and Rothschild Redburn are more cautious. Wall Street rates IREN a Strong Buy, with an average target of $82.56 implying about 228% upside. IREN stock closed Friday at $24.90, down 2% on the day. That leaves it down more than 21% over the past five days. IREN Limited, IREN The stock hit a new 52-week low earlier in the week, trading around $25.58.

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