IREN Plunges 6.39% in 2023's Largest Drop Ranks 24th in 4.36 Billion Volume

On October 10, 2025, IREN (IREN) closed with a 6.39% decline, marking its most significant single-day drop since early 2023. The stock ranked 24th in trading volume for the day, with $4.36 billion in shares exchanged. The sharp selloff occurred amid mixed market conditions, with energy and renewable sectors under broader pressure due to waning demand forecasts for solar infrastructure. Analysts noted the decline aligned with sector-wide volatility rather than firm-specific developments, as IREN’s core solar panel manufacturing operations remain operational without material disruptions reported.

Market participants observed that IREN’s underperformance correlated with a broader selloff in high-volume equities during the session. While no direct corporate announcements impacted the stock, technical indicators showed increased short-term bearish momentum, with the 20-day relative strength index (RSI) dipping below key support levels. Institutional selling pressure appeared concentrated in mid-cap renewable energy names, though no major fund redemptions or regulatory filings were flagged as catalysts for IREN’s specific decline.

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