On July 27, TeraWulf Inc. fell 5.09% in regular trading, trading at $17.54 USD/share, with turnover of $104 million. The stock had risen over 5% in pre-market trading but rapidly gave back gains after the open, turning negative.
On the news front, Chardan initiated coverage on the stock with a Buy rating and a $32 price target. The FactSet consensus target price stands at $38.11, with Bernstein at $36 and BofA Securities at $34, all significantly above the current level. Despite the bullish initiation, selling pressure dominated.
The decline extends a broader high-level pullback pattern. TeraWulf surged to $22.7 on July 8 after announcing a 20-year lease agreement with Anthropic for its Justified Data campus in Kentucky, with estimated contract revenue of approximately $19 billion over the full lease term. Since that peak, the stock has retraced substantially, and the current session marks a continuation of that corrective trend despite recent recovery attempts and supportive analyst coverage.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)