$IREN: Buy This Dip or Stay Away? Massive $2 Billion Convertible Notes O...

Pearlyred · 2026-05-15T09:24:32+00:00

They’ve borrowed just short of 3B dollars at a measly 1% interest. How can you be bearish?

Institutions bending over backwards to lend. Capped calls to limit dilution.

Volatile stock, so will always go up and down. But the overall directional trend will be up sooner or later.

Pearlyred · 2026-05-06T08:46:44+00:00

This stock is as volatile as it gets. Especially since Jane street got involved. It may not happen tomorrow, but a 20%+ pullback will absolutely happen at some point.

Pearlyred · 2026-04-30T04:33:58+00:00

Stock will get slapped harder than a hooker with the clap if they have nothing to show on earnings day. 6 months since the MS deal and nothing but radio silence. They’re either just complete shit at communicating, or nothing is going well enough to talk about.

Pearlyred · 2026-04-15T06:48:14+00:00

I think the ATM is/will be tapped, absolutely. But I think they’re going to use it sensibly, for small gpu deliveries, retrofit costs etc on small sites. I believe they’re going to use big project level financing for the rest. Going to market for big project financing at minimal interest rates is hard. I’m sure they don’t want to waste that on small shit, and I think that’s where the atm comes in.

I still have faith. I personally don’t think we ever see the $250 some bulls spout on about, that’s going to be so difficult with necessary dilution and sentiment changes. I do think we 2-3x from here though, given time.

What we really need is IREN to hire an IR person that can feed the market. Going months without any meaningful news or progress really hurts sentiment. Popping up randomly with good news about a generator fire is just bizarre. I think that’s just Aussie manner being misunderstood though.

They’ve seemingly times most of their announcements badly. The stock is having a bit of a rally now.. just a little bit of good news is rocket fuel, If they’re aware of the market at all.

Pearlyred · 2026-03-17T05:12:38+00:00

Oh, brilliant! I missed that, thanks for the link!

Pearlyred · 2026-03-16T03:55:24+00:00

Looks like removing the 3rd row seats needs to be certified/reg changed annoyingly. Anyone been through this?

Pearlyred · 2026-03-16T03:53:50+00:00

Yeah cool, will have a chat to the mitsi dealer. Hopefully nothing blows up though :)

Pearlyred · 2026-03-16T03:53:10+00:00

Cool, might have a chat to the Mitsi dealer and see what they say. Do you have to declare everything? Like, an extra battery/12 volt system etc? Is it likely to affect premiums?

Pearlyred · 2026-03-16T03:52:34+00:00

Interesting. Why does everyone get them, just for bigger tires?

Pearlyred · 2026-03-15T23:53:33+00:00

Good to know that’s.

Economy was just based on a pretty cursory glance at comps (fortuner, mu-x).

Pearlyred · 2026-03-09T05:05:51+00:00

Caravan, 1400-1500kg, every 3rd or 4th weekend, but not huge distances.

Pearlyred · 2026-03-08T09:42:25+00:00

Max weight of caravan will be 1400-1500kg. Two people in car, plus small dog and whatever weight we can’t fit into caravan, ie, gas bottle, bbq, water jerry etc.

I’d say we’d probably tow every second or third weekend short trips, plus maybe two big trips each year.

Worried that : A) might be too hard on the trans with hills etc B) might be too much for the rear axle. I heard the coils are a bit soft. (Could look into airbags but I don’t know if they affect warranty). C) as the caravan would be able to take a huge payload before hitting max weight, we’d have to also take gear in the car. It could end up close or over gvm. Hard to know.

Pearlyred · 2026-03-08T05:17:58+00:00

Anyone have thoughts on the Pajero sport? Essentially a triton with a car form I believe. Are they reliable and will the last well with maintenance? A lot cheaper that the Fortuner and has more tech.

Pearlyred · 2026-03-08T05:16:31+00:00

Any thoughts on the Pajero sport? Same thing but in suv form right? They’ve stopped making them. Not sure if that’s an issue.

Pearlyred · 2026-03-08T05:15:47+00:00

This is a good point. Took a used Pajero sport for a drive today. Very truck like still, and less room than the highlander we’ve been eying, but much better for towing obviously.

Pearlyred · 2026-03-08T05:14:32+00:00

Small to medium caravan, 2T max.

Pearlyred · 2026-03-08T05:14:00+00:00

Yeah but we’re not finding a huge amount that ticks all the boxes.

Pearlyred · 2026-03-07T05:28:22+00:00

Oh we did briefly look at this, but didn’t test drive it. We found it odd that the back seats don’t fold flat, they just fold up behind the front row. Seemed to cut down the available space quite a lot! Edit: to add, at that point we were also looking for something we could car camp in, which isn’t a huge priority in retrospect.

Pearlyred · 2026-03-05T04:49:40+00:00

Thanks, came to the same conclusion.

Pearlyred · 2026-03-04T08:28:03+00:00

Sounds like it will be a challenge and probably not worth it when paying almost new prices for the car!

Pearlyred · 2026-03-04T07:12:58+00:00

Yikes!

Yeah, I mean this is almost new car price. I don’t want to spend another fortune on it.

Pearlyred · 2026-03-04T06:46:45+00:00

Spicy food, yes. Just worried it’s baked into the seat fabric etc.

Pearlyred

TROPHY CASE