$IREN - Since people keep calling $20-22 ‘impossible’ Currently $37, down from a $76.87 all-time high nine months ago. It already touched $29 just days ago before this week’s bounce so $20-22 isn’t some fantasy level, it’s an incremental move from where the stock already traded days ago. None of that changes because of a cash number. Mining margins are exposed to a weaker bitcoin, and the AI buildout is funded through repeated dilutive converts. That combination doesn’t care what people find comfortable to believe. Still my base case We’ll see who’s right Full breakdown of the chart weakness I’m seeing in the 3 min video on this post ⏬
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