Hut 8 Stock Drops After a Record Rally, but Wall Street Still Likes the AI Pivot

Three forces were behind the pullback:

1. Profit-taking after a historic one-day surge of more than 35% and a move to a record high above $100.
2. [Mixed Q1 2026 results](https://truthsandnews.com/markets/hut-8-stock-drops-after-record-rally-as-wall-street-raises-targets), with revenue of $71.0 million but a net loss of $253.1 million, including $295.7 million of primarily unrealized losses on digital assets.
3. Execution risk, because the new Beacon Point lease is huge, but the tenant is undisclosed and the project is capital intensive, with delivery stretching into 2027.