MarketPR
(IREN) recorded heavy, unusual trading in out-of-the-money put options late last week, a development Barchart reports suggests some investors view the Bitcoin mining and data center company as undervalued.
The activity occurred after Bitcoin moved higher, a trend that likely drove IREN's recent price gains. IREN closed Friday at $44.68, a 7.27% increase. The stock had already risen 5.18% on Thursday, Sept.
3, and 7.55% on Wednesday, marking a recovery from a two-month slump.
Bitcoin spiked during the week, driven by heavier institutional demand for digital assets following Federal Reserve signals that it would not aggressively hike short-term rates.
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