Why Did IREN Stock Crash 11% Despite the Reported Anthropic Deal?
Photo: CoinCentral
TLDR IREN stock fell 11% to $26.99 on Friday, October 16, with volume near 68 million. Rate fears and data center financing worries hit AI infrastructure names, including CoreWeave and Nebius. Barron’s reported on October 12 that Anthropic agreed to a multiyear cloud deal with IREN. Neither company has confirmed it. Analysts have a Buy consensus and an average target of $77.81, about 188% above Friday’s close. Support sits at $26.55, and the 14-day RSI is near 22. Earnings are expected November 5. IREN stock fell 11% on Friday, October 16, closing at $26.99.
Source: CoinCentral
