10 Stocks Nosedive, Defying Broader Optimism

4. IREN Ltd. (NASDAQ:IREN)

IREN Ltd. (IREN) dropped its share prices by 9.84 percent to close at $10.81 apiece following the lack of positive developments in the cryptocurrency industry.

IREN followed the downward trend seen in other Bitcoin mining stocks after President Donald Trump failed to address plans for the cryptocurrency industry.

In recent months, Trump has made several promises to the crypto sector, including the potential release of an executive order that would designate cryptocurrency as a national priority.

However, there was no mention of the cryptocurrency industry at all on Monday, leaving investors disappointed. Many had hoped the crypto-friendly president would spearhead a transformative shift in U.S. policies toward the volatile asset class, but his silence dashed those expectations.

Investor pessimism both dampened prices of Bitcoin and share prices of cryptocurrency miners. As of this writing, Bitcoin’s prices were already down by 0.39 percent to close at $105,785 apiece.