5 Stocks Exploding in a Bleeding Market
Insider Monkey – Free Hedge Fund and Insider Trading Data (Angelica Ballesteros)In this article, we deep dive into the 5 stocks that outperformed Wall Street on Monday. For a deeper discussion and an extended list, please see 10 Stocks Exploding in a Bleeding Market.
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5. IREN Ltd. (NASDAQ:IREN)
IREN extended its winning streak to a third straight day on Monday, jumping 8.37 percent to finish at $49.48 apiece, as investors resumed buying positions ahead of the results of its earnings performance.
In a notice to investors, IREN Ltd. (NASDAQ:IREN) said that it would announce its financial and operating highlights for the third quarter of fiscal year 2026 after market close on Thursday, May 7. A conference call will be held to elaborate on the results.
The rally can be primarily attributed to the overall optimism on data center and high-performance computing (HPC) companies, bolstered by the continued AI expansion.
In other news, IREN Ltd. (NASDAQ:IREN) last Friday announced the successful energization of its 1.4 GW data center called Sweetwater 1 in Texas.
Energization marks the official connection of the facility to the Electric Reliability Council of Texas (ERCOT) grid, paving the way for the company’s target of energizing 2 GW in the Sweetwater campus.
Power delivery is expected to ramp progressively in line with the phased construction and commissioning of data centers at the site.
“Delivering Sweetwater 1 substation energization on schedule reflects our disciplined execution, the strength of our supply chain relationships and the efficiency of our vertically integrated development model. It is another example of our ability to design and construct large-scale infrastructure reliably and at speed to meet market demand,” said IREN Ltd. (NASDAQ:IREN) co-CEO Daniel Roberts.
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