IREN (IREN) Tumbles 15% on Billion-Dollar Fundraising from New Shares, Convertible Notes

We recently published 10 Stocks Deep in the Red. IREN Ltd. (NASDAQ:IREN) is one of the worst performers on Tuesday. IREN Ltd. declined by 15.20 percent on Tuesday to close at $41.12 apiece as investor sentiment was dampened by announcements that it plans to raise more than $2.3 billion in fresh funds from the issuance of convertible senior notes and new shares. In a statement on the same day, IREN Ltd. (NASDAQ:IREN) said that it would issue two series of convertible senior notes worth $1 billion each—one ...