IREN Fintel inst. shares held:
164.9M (Jul) → 234.3M (Aug)
That spike is mostly Q2 13Fs landing, not 69M bought in August.
Q2 reality:
Institutions +~65M shares
Company issued ~23–40M (ATM + Nostrum)
Jul–mid Aug dilution was smaller: +13M, almost all Mirantis (12.6M on Aug 3).
$IREN the only argument for a bounce is that the price is below the daily Bollinger band and likely going to close there.
This has led to a positive reaction every time over the past year.
However, the Bollinger bands were not that tight and did thus not suggest a more directional move was imminent.
Thus, it'll be extremely important to watch price action in the coming days to determine whether there's going to be a bounce or more downside alongside Bollinger band expansion.
Cathie Wood says she avoids memory stocks like $MU and $SKHY because she still sees HBM as the most cyclical and commoditized part of the semiconductor stack.
Her bigger point is that inference architectures from $CBRS and $NVDA via Groq can reduce or eliminate the need for HBM which makes today’s memory pricing surge look more temporary than structural.
As she puts it when technology costs “triple or quadruple” engineers eventually design around the bottleneck and she believes inference is already starting to do exactly that.