TeraWulf Drops 8% Even as Analysts Raise Price Targets on $19B Anthropic Deal, IREN Falls 7%, Applied Digital Slides 6% Quick Read – WULF fell 8% and IREN dropped 7% despite analysts lifting their TeraWulf stock price targets, as unfinalized credit support on the $19B Anthropic…
ase triggered selling. – CIFR fell 4% in sympathy, while TeraWulf’s AI orderbook hit $27 billion across multiple clients, including Google-backed Fluidstack and Anthropic. – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Iren didn’t make the cut. Grab the names FREE today
Shares of TeraWulf (NASDAQ:WULF) are down 8% to $20.41 in Tuesday’s midday session, reversing yesterday’s rally on the Anthropic mega-deal. The drop lands in a broad AI-infrastructure pullback, with the NASDAQ 100 down 1.5% intraday. The move gives back most of the July 6 pop but leaves TeraWulf stock still up 78% year to date (YTD).
Peer names are trading in sympathy: IREN (NASDAQ:IREN) is down 7% to $40.97, Applied Digital (NASDAQ:APLD) is off 6% to $31.56, and Cipher Mining (NASDAQ:CIFR) is down 4% to $20.85. Analyst Target Hikes Meet Sell-the-News The irony of today’s action is that multiple Wall Street desks raised targets on TeraWulf even as the stock fell. Rosenblatt lifted its target to $30 from $27 (Buy), Needham moved to $33 from $28 (Buy), KBW held Outperform at $33, and Bernstein reiterated Outperform at $36.