Latest news with #CRCL
Globe and Mail
17 hours ago
- Business
- Globe and Mail
Why Circle Internet Stock Skyrocketed 83.2% This Week
Shares of Circle Internet Group (NYSE: CRCL) have soared this week, finishing up 83.2% from last week's close. The massive run came as the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) were relatively flat. The company, which IPO'd earlier this month, is the sole issuer of USDC, one of the most popular stablecoins on the market. Investors sent the stock soaring this week after the U.S. Senate passed the GENIUS Act, a landmark bill that would create a federal regulatory framework for stablecoins. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » One step closer for stablecoins The bill allows banks, fintech firms, and retailers to legally issue and use stablecoins, while also establishing consumer protections and regulatory oversight for their use. The bill must now clear the House of Representatives. House members will need to reconcile the bill with their own version, which contains some key differences, especially in what agencies would take the lead in regulating the market. If the bill successfully makes its way to President Trump's desk and is signed into law, it will mark a watershed moment for stablecoin adoption and the cryptocurrency market at large. Sen. Kirsten Gillibrand, a co-sponsor of the bill, said the bill aims to "enable U.S. businesses and consumers to take advantage of the next generation of financial innovation" and "protect consumers, enable responsible innovation, and safeguard the dominance of the U.S. dollar." Circle Stock is hot, but there are issues Since its IPO earlier this month, Circle stock has risen nearly 200%. While I think the excitement is warranted, investors should pay attention to valuation. With a market cap of nearly $60 billion and sales last year of $1.7 billion, there is a lot of growth priced in already. While I think Circle could do very well and that $1.7 billion is likely to grow significantly if the GENIUS Act becomes law, there are two factors that make me wary of the stock, given its valuation. One, the company's revenue is directly tied to interest rates, which are currently elevated. As the Federal Reserve cuts rates, which they are expected to do later this year, the company's bottom line will be hit. Two, a significant chunk -- roughly 50% -- of Circle's revenue is paid to Coinbase as part of the two companies' relationship. That percentage can change based on how much USDC Coinbase holds on its exchange. That means Circle's fate is directly tied to decisions made at another company. Should you invest $1,000 in Circle Internet Group right now? Before you buy stock in Circle Internet Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Circle Internet Group wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $659,171!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $891,722!* Now, it's worth noting Stock Advisor 's total average return is995% — a market-crushing outperformance compared to172%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 9, 2025
Yahoo
17 hours ago
- Business
- Yahoo
Tech stock hits all-time high after receiving 'First Buy' rating and 'genius' buzz
Tech stock hits all-time high after receiving 'First Buy' rating and 'genius' buzz originally appeared on TheStreet. The stock of Circle Internet Group (NYSE: CRCL) surged as much as 17% once it received the First Buy rating from Seaport Global on June 20, Bloomberg reported. Circle is the company behind the USDC stablecoin. A stablecoin is a type of cryptocurrency that tries to maintain a stable value, unlike mainstream cryptocurrencies like Bitcoin that are generally volatile. Circle's USDC, as the name suggests, is pegged 1:1 to the U.S. dollar. The second-largest stablecoin, it accounts for around 25% of the total stablecoin market cap of $251 billion, as per DeFiLlama. Join the conversation with Scott Melker on The company made a spectacular public debut on June 5 as it opened at $69, around 125% higher than the IPO price of $31. On June 17, the GENIUS Act, the legislation dealing with stablecoin regulation, passed the Senate. The landmark move further boosted the already booming CRCL stock as it surpassed the $200 price mark the next day. Join the conversation with Scott Melker on Now, Seaport Global has granted Circle the First Buy rating, demonstrating the growing institutional confidence in the newly launched stock and even in the burgeoning stablecoin industry. Seaport analyst Jeff Cantwell anticipates Circle increasing its revenue 25%-30% annually. In fact, the firm could reach $3.5 billion in revenue in 2025, he said. Cantwell added: "We view Circle as a top-tier crypto 'disruptor' with a sizable future opportunity." Since its public debut on June 5, the CRCL stock has surged more than 400% in value. It even hit an all-time high (ATH) of $248.88 on June 20. At press time, CRCL was trading at $237.88. Tech stock hits all-time high after receiving 'First Buy' rating and 'genius' buzz first appeared on TheStreet on Jun 20, 2025 This story was originally reported by TheStreet on Jun 20, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Circle Started at Buy at Seaport Securities, Which Eyes $2T Opportunity in Stablecoins
Recently gone public stablecoin issuer Circle (CRCL) was started with a buy rating and $235 price target at Seaport Securities. The stablecoin market cap could reach $2 trillion in coming years versus just about $260 billion today, said the Wall Street research firm. Alongside, Seaport sees Circle as able to generate annual revenue growth of 25%-30% with gross margins of roughly 40%. Circle, said the firm, should perform far better than most fintechs over the next two years and thus deserves a premium multiple. Shares of CRCL are higher by another 19% on Friday to $237, already topping that $235 price target. The stock has now risen nearly eight-fold since coming public at $31 a bit more than two weeks ago. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Crypto stocks soar after Senate passes stablecoin bill, Circle up over 50%
Shares of the first publicly-traded stablecoin company Circle continued to surge on Friday after the Senate passed legislation that would establish a regulatory framework for stablecoins, a type of cryptocurrency designed to maintain a value in line with the U.S. dollar, earlier this week. Shares of Circle are up 53%, soaring from $148 to $227, since the market opened on Wednesday after the legislation passed in the Senate on Tuesday night. Shares of other crypto-related companies increased on the news with Coinbase, the leading crypto exchange in the U.S., gaining 20% since Wednesday. The legislation, known as the GENIUS act, is a first-of-its-kind bill that would establish regulations and consumer protections for stablecoin companies, including full reserve backing, monthly audits, and anti-money laundering compliance. After passing in the Senate, it will be sent to the House of Representatives for a vote and potential revisions. Circle issues USDC, the second-largest stablecoin by market cap behind Tether's USDT. Circle CEO Jeremy Allaire expressed his support for the bill in a post on X after the Senate vote on Tuesday night. 'History is being made, as the US Senate passes the GENIUS Act, taking us one step closer to breakthrough legislation being signed into law that will drive U.S. economic and national competitiveness for decades to come,' he wrote. The surge in Circle's stock price comes weeks after the company's debut on the stock market under the ticker CRCL. After pricing its shares at $31, CRCL opened on the New York Stock Exchange at $69. Within its first day on the market, the company's shares soared to a high of $103.75 before closing at $82.23, showcasing strong retail demand for access to the stablecoin industry. Since 2021, stablecoins have become increasingly popular outside of the U.S. as a means to settle cross-border transfers and protect assets against inflation. Crypto firms, however, have long complained that the U.S. stablecoin industry has been hindered by a lack of clear regulations, especially under Biden-era Securities and Exchange Commission (SEC) chair Gary Gensler who initiated dozens of investigations and enforcement actions against crypto companies. The Senate's passage of the GENIUS act was aided by President Donald Trump's vocal support of the broader crypto industry. In addition to pushing for Congress to pass the stablecoin bill, Trump has established a national Bitcoin reserve, pardoned crypto criminal Ross Ulbricht and appointed SEC officials that have ended a number of lawsuits against crypto companies. With support from the U.S. president and increasing regulatory clarity, mainstream corporations are considering implementing them into their payment structures, including Meta, Google, AirBnB and X. This story was originally featured on Inicia sesión para acceder a tu portafolio
Yahoo
a day ago
- Business
- Yahoo
Crypto stocks soar after Senate passes stablecoin bill, Circle up over 50%
Shares of the first publicly-traded stablecoin company Circle continued to surge on Friday after the Senate passed legislation that would establish a regulatory framework for stablecoins, a type of cryptocurrency designed to maintain a value in line with the U.S. dollar, earlier this week. Shares of Circle are up 53%, soaring from $148 to $227, since the market opened on Wednesday after the legislation passed in the Senate on Tuesday night. Shares of other crypto-related companies increased on the news with Coinbase, the leading crypto exchange in the U.S., gaining 20% since Wednesday. The legislation, known as the GENIUS act, is a first-of-its-kind bill that would establish regulations and consumer protections for stablecoin companies, including full reserve backing, monthly audits, and anti-money laundering compliance. After passing in the Senate, it will be sent to the House of Representatives for a vote and potential revisions. Circle issues USDC, the second-largest stablecoin by market cap behind Tether's USDT. Circle CEO Jeremy Allaire expressed his support for the bill in a post on X after the Senate vote on Tuesday night. 'History is being made, as the US Senate passes the GENIUS Act, taking us one step closer to breakthrough legislation being signed into law that will drive U.S. economic and national competitiveness for decades to come,' he wrote. The surge in Circle's stock price comes weeks after the company's debut on the stock market under the ticker CRCL. After pricing its shares at $31, CRCL opened on the New York Stock Exchange at $69. Within its first day on the market, the company's shares soared to a high of $103.75 before closing at $82.23, showcasing strong retail demand for access to the stablecoin industry. Since 2021, stablecoins have become increasingly popular outside of the U.S. as a means to settle cross-border transfers and protect assets against inflation. Crypto firms, however, have long complained that the U.S. stablecoin industry has been hindered by a lack of clear regulations, especially under Biden-era Securities and Exchange Commission (SEC) chair Gary Gensler who initiated dozens of investigations and enforcement actions against crypto companies. The Senate's passage of the GENIUS act was aided by President Donald Trump's vocal support of the broader crypto industry. In addition to pushing for Congress to pass the stablecoin bill, Trump has established a national Bitcoin reserve, pardoned crypto criminal Ross Ulbricht and appointed SEC officials that have ended a number of lawsuits against crypto companies. With support from the U.S. president and increasing regulatory clarity, mainstream corporations are considering implementing them into their payment structures, including Meta, Google, AirBnB and X. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
