NY Data-Center Moratorium Triggers 19% TeraWulf Plunge, Analysts Call Overdone
WULF has more than doubled off its 52-week low of $4.64.
Summary
New York Governor Hochul issued an executive order halting large data-center construction (>50 MW) for up to a year, directly threatening TeraWulf's Lake Mariner and Cayuga sites. The stock fell 2.3% Wednesday, extending a 7% drop Tuesday, and has shed 19% since July 9 — a $2.06 billion market-cap loss. Wall Street analysts at Cantor Fitzgerald and Rosenblatt see limited near-term risk, noting most of TeraWulf's power footprint is now outside New York and existing operations are likely exempt. They view the sell-off as a buying opportunity, reiterating Overweight/Buy ratings with price targets of $37 and $30. This follows the landmark $19 billion Anthropic lease and $3.5 billion debt raise plans, underscoring the company's pivot to AI infrastructure. The moratorium introduces headline risk but may not materially impact the Kentucky-focused growth strategy.
At the time of this announcement, WULF was trading at $19.34 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $9.6B. The 52-week trading range was $4.64 to $29.84. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.