Iris Energy’s stock plunged nearly 20% in midday trading Thursday after activist short seller Culper Research published a short report on the bitcoin miner’s stock. The short-seller analogized the company as looking “to win the Monaco Grand Prix, but just arrived to the track in a Toyota Prius.”
According to data from YCharts, the company's market cap was $2.2 billion just a week ago. Culper estimates that number should be a fraction of that. “As shown below, each deal implied a valuation of $2.5 million per MW, on average. At the same multiple, IREN would trade to $5.75 per share, or 59% less than today’s price. Investors wishing for a buyout offer like those received by Core or Griid should be careful what they wish for.”
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer: