The Crowd Is Dumping Iren. Here's Why I'd Be Buying It Down 54%.

Not that long ago, Iren (NASDAQ: IREN) enjoyed a monumental bull run, soaring from $5 to $76 in less than a year. That euphoric momentum has been depleted. The stock has crashed by 54% from its all-time high, but the long-term picture is stronger than ever. Here's why Iren looks like a buy despite strong pessimism from retail investors.No one likes it when their stock gets diluted, and it can cause investors to scramble. Iren has been raising money through loans with competitive rates for a while, but its at-the-market equity program of up to $6 billion drew skepticism. Iren currently has a $11 billion market cap, so this proposal can result in the dilution of half of its shares. However, it's not guaranteed to happen right away. Iren can theoretically wait until its market cap is much higher before tapping into the at-the-market equity program, which would result in less dilution.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool