🔴 IREN is trading 5% down today as Bernstein cuts price target amid crypto pullback

IREN is trading at $48.04 (-5.13%) as Bernstein lowered its price target on the stock while the broader cryptocurrency market faces a pullback.

• Bernstein maintained IREN as a top pick among AI-focused Bitcoin miners despite the price target adjustment, citing company-specific pressure.
• The decline aligns with a weak crypto market, with BTC down 1.57% and ETH falling 3.49% since the last close.
• Broader market sentiment remains cautious as major indices also trade slightly lower today.