On July 9, TeraWulf rose 5.08% in regular trading, trading at $24.065/share with turnover of $415 million, continuing its multi-day recovery rally following a sharp selloff earlier in the week.
The move is driven by the ongoing market reassessment of TeraWulf's landmark agreement with AI research company Anthropic. The company signed a 20-year lease agreement for its Justified Data Campus in Hawesville, Kentucky, with expected contract revenue of approximately $19 billion over the full lease term. Simultaneously, TeraWulf divested its 50.1% majority stake in the Texas-based Abernathy joint venture to Fluidstack for approximately $450 million in proceeds.
The stock initially plunged over 12% on July 7 as investors reacted negatively to the massive capital expenditure implied by the deal, but has since staged a sustained recovery. Multiple investment banks maintain Buy ratings on the stock, with Morgan Stanley setting a $42 price target, Bernstein at $36, and Bank of America at $34 — all significantly above current trading levels.
(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.)
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