Jim Cramer Says It's 'Time To Sell' This AI Infrastructure Stock Amid Steep Pullback, Despite New Partnerships, Bullish Analyst Ratings

Core Viewpoint - Renowned TV host Jim Cramer issued a "Sell" rating on Iren Ltd., an AI infrastructure company, despite previous bullish sentiments and positive market conditions [2][3][4] Company Overview - Iren Ltd. transitioned from an Australian Bitcoin miner to an AI infrastructure company and has experienced a significant stock pullback after a substantial rally earlier this year [2][4] - The stock closed 53.84% below its 52-week high in November, following an 11.59% drop in a single day [3] Recent Developments - Cramer changed his stance on Iren after the company announced a $2 billion convertible note offering, which he criticized as unnecessary dilution of shareholders' equity [4][5] - Despite Cramer's negative outlook, Iren secured a $9.7 billion multi-year deal with Microsoft, marking it as one of the largest agreements in the AI infrastructure sector [5] Analyst Perspectives - Analysts at B. Riley view the recent stock pullback as a buying opportunity, maintaining a "Buy" rating with a price target of $74 per share, indicating a potential upside of 108.56% from current levels [6] - The consensus price target for Iren's stock is $56.93, with a high-end target of $136.00, representing potential upsides of 60.45% and 283.31%, respectively [7]