IREN Stock on November 21, 2025: Volatility Returns After AI Cloud Euphoria
IREN Limited shares closed Friday at $42.26, down 2.8% after a volatile session with over 50 million shares traded. The stock remains up more than 330% year-to-date but has dropped over 40% from its 2025 high as the company shifts from bitcoin mining to AI cloud services. Market cap peaked near $21 billion before falling to about $12 billion. IREN recently announced a $9.7 billion AI cloud contract with Microsoft.