IREN Just Dropped To $35, And The Market Is Missing The Point

IREN Limited ( IREN ) surged around 13% on Wednesday, after a series of brutal selling sessions that took the stock down over 45% from its November highs near $80 to the high $30s and now consolidating at the low $40s.I’m a retired Wall Street PM specializing in TMT; since kickstarting my career, I’ve spent over two decades in the market navigating the technology landscape, focusing on risk mitigation through the dot com bubble, credit default of ‘08, and, more recently, with the AI boom. In one word, what ...