U.S. stocks were lower, with the Dow Jones index falling more than 100 points on Wednesday.
Shares of Iris Energy Limited (NASDAQ:IREN) rose sharply during Wednesday's session on the heels of the company's first-quarter financial results. Multiple analysts raised price targets following the print.
After the market close on Tuesday, Iris reported first-quarter Bitcoin (CRYPTO: BTC) mining revenue of $49.6 million. The company reported a 28% increase in AI Cloud Services revenue quarter-over-quarter to $3.2 million.
Iris Energy shares jumped 30.8% to $12.51 on Wednesday.
Here are some other big stocks recording gains in today's session.
- Agora, Inc. (NASDAQ:API) gained 26.1% to $5.98.
- Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) shares gained 20.9% to $25.45 following FY 2024 results.
- Murano Global Investments Plc (NASDAQ:MRNO) jumped 18.4% to $11.13.
- Kingsoft Cloud Holdings Limited (NASDAQ:KC) gained 17.1% to $6.99.
- Urban Outfitters, Inc. (NASDAQ:URBN) shares surged 16% to $46.58 following third-quarter earnings. Citigroup upgraded the stock to Buy following the report.
- Bit Digital, Inc. (NASDAQ:BTBT) gained 14.4% to $4.2802.
- Fate Therapeutics, Inc. (NASDAQ:FATE) gained 14.4% to $3.0650.
- Hut 8 Corp. (NASDAQ:HUT) shares jumped 12.8% to $27.56.
- Archer Aviation Inc. (NYSE:ACHR) gained 12.2% to $8.10.
- MINISO Group Holding Limited (NASDAQ:MNSO) climbed 7.2% to $18.66.
- Bloom Energy Corporation (NYSE:BE) shares gained 5.8% to $27.69.
- Ambarella, Inc. (NASDAQ:AMBA) gained 5% to $71.82 after the company on Tuesday reported a year-over-year increase in third-quarter revenue results..
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