IREN stock: the graded accounts called the 2025 run 38 to 0, and split 14 to 13 at $22

Our data on IREN starts in August 2025 and holds 1,937 mentions from the accounts we track. 463 of them came from accounts with a graded record. Those accounts were bullish 38 to 0 in the five weeks up to its record close of $76.41 on November 5, 2025. On each of the three big moves since, most of their calls went the other way.

Today they split almost evenly, and the two platforms behind most of the volume pull opposite ways: X is bullish, Reddit is bearish.

IREN stock price: from $76.41 to $22.02

IREN fell 41% in October, from $40.88 to $23.95. The worst day was October 16, down 11.2%, as the neocloud stocks sold off on worries about CoreWeave's debt (24/7 Wall St.). It lost another 8.8% on October 30 and 8.1% on November 2, when it closed at $22.02. Its intraday low that day, $21.86, is the bottom of the 52-week range.

What IREN does

IREN started as a bitcoin miner and is turning its sites into AI data centers. It still mines, but it now also rents Nvidia GPU capacity to AI developers by multi-year contract. In the quarter to June 30, 2026, AI cloud brought in $70.5 million of its $137.2 million revenue and bitcoin mining $66.7 million. The quarter's net loss was $684.0 million, including $450.4 million of impairments on retired mining hardware (FY26 results).

The contracts are what the crowd trades on:

• Microsoft, November 3, 2025. Five years of access to Nvidia GB300 GPUs at its Childress, Texas campus, worth about $9.7 billion, with a 20% prepayment (IREN). The stock rose 11.5% that day and set its record two sessions later.
• Nvidia, May 7, 2026. A five-year cloud contract worth about $3.4 billion (IREN).
• August 27, 2026. With full-year results, IREN announced a multi-year contract with an unnamed "leading frontier AI lab" and put contracted annual run-rate revenue for 2026 capacity at $4 billion. The stock fell 12.5% the next day.

On October 12, The Information reported that the unnamed lab is Anthropic (Crypto Briefing). Neither company has confirmed it.

Four moves, and where the graded accounts stood

The first move went the graded accounts' way. In the five weeks up to the record, 38 of their 39 IREN posts were bullish and none bearish.

After that, they were late. They stayed bullish about 3-to-1 while IREN lost 59% into March, and turned bearish in March itself, 13 to 17, the month of the low. During the run that more than doubled the stock they ran 2-to-1 bearish. Then they went bullish again, 52 to 10 in July alone, and IREN fell 68% from its May 27 close.

Compare Nebius, where they held together: through its 48% summer slide the graded accounts held close to 8-to-1 bullish and the stock rose 75% off the low. On IREN the accounts with the best records kept disagreeing with each other.

Who made the calls

The six graded accounts that posted most about IREN across all of our data:

Account	IREN mentions	Bullish	Bearish
@babyfolio	134	108	14
@InvestNorthwise	77	71	3
@Kaizen_Investor	52	39	6
@CKCapitalxx	37	11	21
@aleabitoreddit	30	7	23
@ThematicTrader	20	3	15

Four of the six rank in our top 20 by track record, and they split two against two. @babyfolio was 26 to 0 bullish in October 2025, before the record. @CKCapitalxx, @aleabitoreddit and @ThematicTrader posted 50 bearish calls from March to May 2026, at an average price near $43. IREN ran to $67.84 first, then fell to $22.02 (more on @aleabitoreddit). The bears were early and the bulls were late.

IREN stock forecast: what the crowd is calling now

From October 4 to November 2, the accounts we track posted 302 IREN mentions, 152 bullish and 127 bearish. The two platforms behind them disagree:

• X: 189 mentions from 47 accounts, 126 bullish to 55 bearish. The bulls defend IREN's financing and contract book; the bears group it with the other neoclouds on debt and GPU rental prices.
• Reddit: 112 mentions from 98 posters, 72 bearish to 25 bullish. On October 18, the Sunday after the 11.2% drop, 26 of 27 Reddit posts about IREN were bearish, many of them about its sports sponsorship spending.

The graded accounts, 27 of whose 28 mentions came from X, split 14 bullish to 13 bearish. Across all the accounts we track, bearish calls outnumbered bullish ones on 10 of the 30 days. Nebius did not have one such day in its summer slide.

IREN's 7-day score on the morning of November 3 is 31. Among the GPU cloud names we compare it with, Cipher scores 77, Applied Digital 70, Nebius 67, CoreWeave 46 and TeraWulf 42. The bullish volume on X has not lifted IREN's score to its peers'.

Quantral does not forecast prices. Two days before IREN reports, the accounts with the best records are split on it, and its score sits below the five GPU cloud names we compare it with.

IREN earnings date: what to watch on November 5

IREN reports results for the quarter to September 30, the first quarter of its 2027 fiscal year, on Thursday, November 5, 2026, with a call at 5:00 p.m. ET. Three things to watch:

1. AI cloud revenue against the June quarter's $70.5 million, now that IREN has delivered the first Microsoft capacity at Childress.
2. The frontier lab. Whether IREN names the customer from August, and the contract's size.
3. Funding. How IREN pays for the build-out, the concern behind October's slide across the neoclouds.

For where IREN sits against the other GPU clouds, servers and power names, see our AI infrastructure stocks list, and for what a neocloud is, what is a neocloud.

Common questions

What is the IREN stock price today?

IREN closed at $22.02 on November 2, 2026, down 47% in a month. Its 52-week range runs from $21.86 to $76.87. For a current quote, check your broker or the Quantral app.

What does IREN do?

IREN Limited, formerly Iris Energy, builds and runs data centers in Australia, Canada and the United States. It mines bitcoin and rents Nvidia GPU capacity to AI companies, Microsoft among them.

When is IREN's next earnings date?

IREN reports results for the quarter to September 30, 2026, on Thursday, November 5, 2026, after the market closes, with a conference call at 5:00 p.m. ET.

What is the IREN stock price prediction for 2030?

Quantral does not publish price targets or long-range predictions. We can show the crowd's record on IREN: the graded accounts we track got the 2025 run right, leaned the wrong way on the next three moves, and split 14 to 13 today.

Why is IREN stock down?

IREN fell 41% in October with the rest of the neocloud group, as worries about CoreWeave's debt and the cost of funding AI data centers spread across GPU cloud stocks. Its worst day was October 16, down 11.2%.

Is IREN stock a good buy?

We don't give buy or sell advice. The graded accounts we track are split on IREN, 14 bullish to 13 bearish over the last 30 days, and Quantral grades every call it tracks, losers included.

Try it

Open IREN in Quantral before the November 5 report to see the live reading, every call behind it and the record of each account that made it. Quantral is an investment ideas app built on alternative data, on the web at app.quantral.com, on iOS and on Android, with a 7-day free trial on the yearly plan.

Prices are daily closes through November 2, 2026; the 52-week range uses intraday lows and highs from November 3, 2025. Mention counts and splits cover the accounts Quantral tracks, by US Eastern day, from August 5, 2025 to November 2, 2026; "the last 30 days" is October 4 to November 2. Graded accounts have more than ten resolved calls, most of them right. The move table splits our coverage at the closing highs and lows. The 7-day score is the reading on the morning of November 3, not a historical value. Company figures are from the releases and reports linked in the text. Positions attributed to accounts are their views, not Quantral's.

Quantral surfaces signals and context from public sources to support your own research. Nothing here is financial advice or a recommendation to buy or sell. Past signals are not indicative of future results.