Conditional rendering inside v-for not working properly?

<template>
  <div class="grid md:grid-cols-3 gap-2">
    <div v-for="stat in stats" :key="stat.label" class="bg-white p-6 rounded-md">
      <Icon v-if="status === 'pending'" name="heroicons:arrow-path" class="text-gray-500 animate-spin" />
      <p v-else class="text-2xl font-bold">
        {{ stat.value }}
      </p>
      <p class="text-gray-500">
        {{ stat.label }}
      </p>
    </div>
  </div>
</template>