We recently published 10 Stocks Stealing Wall Street Spotlight. CleanSpark, Inc. (NASDAQ:CLSK) is one of the best-performing stocks on Monday.
CleanSpark snapped a three-day losing streak on Monday, surging 17.99 percent to close at $11.48 apiece as investors took path from an investment firm’s bullish coverage for its stock.
In a market note on the same day, the investment firm raised its rating for CleanSpark, Inc. (NASDAQ:CLSK) to “overweight” from “neutral” with a price target of $14, marking a 21.9 percent upside potential from its latest closing price.
JPMorgan said that the upgrade took into account CleanSpark, Inc.’s (NASDAQ:CLSK) recent acquisition of a 271-acre land in Austin, Texas, which would support its existing 285 MW power supply agreements with AI companies.
CleanSpark, Inc. (NASDAQ:CLSK) already kicked off the construction of a new substation for the project after securing the long lead-time items. Development would be implemented in phases to support AI workloads as the company continues to expand its digital infrastructure platform.
Energization of more than 200 MW is expected in the first half of 2027.
In other news, CleanSpark, Inc. (NASDAQ:CLSK) is set to release the results of its earnings performance for the full fiscal year 2025 after market close on Tuesday, November 25.
While we acknowledge the potential of CLSK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.