On July 28, TeraWulf Inc. fell 5.81% in regular trading, trading at $16.53/share, with turnover of $74.37 million. The stock extended its multi-day downtrend following a high-point reversal after the Anthropic long-term lease announcement.
On the news front, the company previously signed a 20-year lease agreement with Anthropic for its Justified Data campus in Kentucky, with expected contract revenue of approximately $19 billion over the full lease term. The stock surged to $22.70 on July 8 on this news but has since retreated more than 27% from that peak. Despite Chardan initiating coverage on July 27 with a Buy rating and a $32 price target, and a FactSet consensus target of $38.11, the stock failed to sustain pre-market gains and continued its descent. Other analysts also maintain significantly higher targets, including Bernstein at $36 and BofA Securities at $34.
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