• Defiance Daily Target 2X Long IREN ETF gained 4.7% today, amplifying a rebound in Iris Energy (IREN) following an analyst upgrade.
  • Jefferies initiated coverage of Iris Energy with a Buy rating and a $79 price target, citing its strategic pivot to AI infrastructure.
  • The move also follows the Federal Reserve's June 17 decision to maintain interest rates at 3.50%-3.75%, accompanied by a hawkish outlook on future policy, which impacted broader market sentiment.