Earnings-Reaction Watchlist: IREN, MRVL, RBRK, AFRM, MSTR

IREN's Q2 report produced a 13% selloff after major EBITDA/EPS misses, a $450 million impairment, rising AI-cloud revenue, substantial financing, and aggressive capex plans. MRVL, RBRK, AFRM, and MSTR remain reaction candidates, but current pre-market volume, VWAP, and opening-range structure are required before trading.