🟢 IREN is trading 4% up today ahead of Q3 earnings and AI cloud focus

IREN is trading at $57.02 (+4.16%) in early session trading as anticipation builds for its Q3 earnings report scheduled for May 7.

• The stock has extended its recent rally with 7-day gains exceeding 18%, supported by a broader Nasdaq climb and steady performance in the crypto market (BTC +0.21%, SOL +2.21%).
• Wall Street expects revenue of $213 million, representing 43.8% year-over-year growth, with a strategic focus on the company's AI Cloud annual recurring revenue (ARR) expansion.
• Despite the positive momentum, some analysts caution that the stock's valuation may be stretched at 6.29x forward price-to-sales following the recent run-up.