IREN has seen its share price swing sharply in recent years, which puts fresh focus on a simple question for you as an investor. Does the current US$18.03 price make sense relative to the sales the business is generating today and what those sales could reasonably support over time? Over the past 3 years the stock has delivered a very large gain of about 7x, which now puts a lot of weight on whether its sales base can carry that kind of move. Recent contract delays with Microsoft and a sizeable capital spending plan can reshape both the timing of future revenue and the funding required, which feeds directly into how much sales investors may be willing to pay for right now. There is a second opinion on IREN worth weighing.
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