Why IREN Stock Soared More Than 20% This Week

Shares of IREN (NASDAQ: IREN) soared over 20% this week, according to data from S&P Global Market Intelligence. A cryptocurrency miner transitioning to running cloud data centers for artificial intelligence (AI) has received two analyst upgrades and has been popular among retail traders. It also has a long-term contract with Microsoft worth billions of dollars. As of this writing at 11:27 AM on Friday, Jan. 16, IREN stock is up 21.6% this week. Here's why, and whether the stock is a buy right now. On Monday, Bernstein named IREN a top AI stock for 2026. On Tuesday, H.C. Wainwright upgraded the stock to a buy due to its successful pivot from Bitcoin mining to an AI cloud provider. These two analyst upgrades were the catalyst for IREN's stock price to start running this week. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool