Key TakeawaysWULF shares declined 2.3% Wednesday to $18.96, capping off a brutal four-day streak with losses approaching 19% since July 9New York Governor Kathy Hochul imposed a 12-month ban on data centers exceeding 50 megawatts in capacityBoth of TeraWulf’s major facilities—Lake Mariner and Cayuga—are situated in New York, creating apparent vulnerabilityCantor Fitzgerald and Rosenblatt view the downturn as an attractive entry point, maintaining price targets of $37 and $30Wall Street analysts argue the moratorium’s enforcement provisions don’t apply to TeraWulf’s current New York operationsShares of TeraWulf have endured a challenging stretch. The cryptocurrency miner transitioning into data center operations slipped 2.3% to close at $18.96 Wednesday, marking the fourth straight day of losses.TeraWulf Inc., WULFSince July 9, the stock has plummeted almost 19%, dipping beneath its 50-day moving average of approximately $24.30. The dramatic decline has wiped out nearly $2.06 billion in shareholder value in under a week.The catalyst for the decline came Tuesday when New York Governor Kathy Hochul issued an executive directive implementing a 12-month prohibition on building data centers exceeding 50 megawatts throughout the state.TeraWulf faces heightened exposure compared to industry peers. The company’s Lake Mariner facility and its Cayuga development project under construction are both situated within New York’s borders, seemingly placing the firm directly in the policy’s impact zone—at least superficially.However, Wall Street analysts aren’t convinced the selloff is justified. Rosenblatt’s Chris Brendler maintained his Buy recommendation and $30 price objective Wednesday, suggesting approximately 58% potential gains from present levels.“Although WULF should be largely exempt and now has the majority of its power footprint outside of NY, the stock still sold off,” Brendler noted. “We view this development as more headline risk than structural as the enforcement mechanism simply doesn’t reach the company’s existing NY platform.”Cantor Fitzgerald shared this assessment, characterizing the decline as a strategic buying window. The investment firm maintained its Overweight recommendation alongside a $37 price objective.Wall Street Remains OptimisticRosenblatt’s $30 projection derives from applying a 26x multiple to the firm’s 2028 Adjusted EBITDA forecast. Compass Point displays even greater confidence with a $40 target. Needham has established a $33 objective, while Bernstein SocGen carries an Outperform rating with a $36 price goal.The collective bullishness from analysts stands firm despite shares trading around $19.TeraWulf didn’t suffer alone during the downturn. CoreWeave declined 4% while Nebius tumbled 7.8% Tuesday. Riot Platforms, Cipher Digital, and Hut 8 similarly experienced downward pressure, with all three names trading lower across Tuesday and Wednesday sessions.Anthropic Partnership Remains Central to Investment ThesisBeyond the moratorium headlines, TeraWulf’s core investment narrative remains intact. The company recently executed a 20-year agreement with Anthropic for its Hawesville, Kentucky facility—delivering 401 megawatts of IT capacity valued at $19 billion across the contract’s duration.This transformative agreement exists entirely outside New York’s jurisdiction, providing a compelling rationale for analysts’ continued optimism.TeraWulf additionally divested its 50.1% ownership position in Abernathy for approximately $530 million, securing a $450 million capital infusion representing 168 megawatts of capacity.While shares have retreated 23% this month, the stock maintains a 65% year-to-date gain and has skyrocketed 260% over the trailing twelve months. With a beta coefficient of 4.26, substantial price swings are characteristic—and according to certain analysts, that volatility represents opportunity rather than risk.Rosenblatt confirmed its Buy rating Wednesday, July 15, keeping the $30 price target in place.The post TeraWulf (WULF) Stock Plunges Nearly 19% Following New York Data Center Ban – Analysts Urge Investors to Buy appeared first on Blockonomi.