🏎️ Bitcoin mining firm IREN, formerly Iris Energy, took a 24% nosedive on Nasdaq after Culper Research, a short seller firm, labeled it "wildly overvalued". Culper likened IREN's claim of winning the AI industry race to showing up at the Monaco Grand Prix in a Toyota Prius. Ouch! Culper also accused IREN of underinvesting in its high-performance computing plans, and pointed out that the firm's co-CEOs have been selling shares since February 2024. IREN's share price partially recovered, but not before the company's market cap dropped to $2.09 billion. Looks like IREN's race to the top just hit a speed bump!