🔴 IREN is trading 7.3% down today on profit-taking after a 35% rally and crypto headwinds

IREN is trading at $56.73, down 7.3% from Friday’s close as investors lock in gains following a massive five-day rally and a transformational $3.4B NVIDIA AI Cloud contract.

• The stock is consolidating after an explosive 35% advance since May 1, triggered by Friday's earnings and the major NVIDIA partnership announcement.
• Pre-market pressure is exacerbated by overnight crypto weakness—with Bitcoin down 0.13% and Ethereum down 0.95%—alongside slightly negative broader market futures.