IREN Shares Fall 2.7% as Technology Stocks Decline

Technology network ©Mikhail Denishchenko IREN (NASDAQ:IREN) shares fell 2.7% in pre-market trading to $42.65 as technology and AI infrastructure stocks declined alongside the broader US equity market. The supplied information did not identify a new company-specific announcement behind Monday's decline. The move followed a rise of approximately 23% in IREN shares over the previous five trading sessions. The recent gains came alongside analyst rating changes and increased attention to the company's expansion in AI cloud infrastructure. JPMorgan Upgrades IREN to Overweight JPMorgan recently upgraded IREN to Overweight from Underweight and raised its price target to $65 from $46.