Latest news with #SeaportGlobal
Yahoo
17 minutes ago
- Business
- Yahoo
Circle Internet (CRCL) Soars 20.4% as Firm Gets 'Buy' Reco
Circle Internet Group (NYSE:CRCL) is one of the Circle Internet jumped by 20.39 percent on Friday to end at $240.28 as investor sentiment was boosted by an investment firm's upgraded rating. On Friday, Circle Internet Group (NYSE:CRCL) earned its first 'buy' recommendation from Seaport Global following the Senate's passage of a legislation that would allow the wide usage of Stablecoins by banks, fintech, and retailers, among others. The news followed Circle Internet Group's (NYSE:CRCL) announcement earlier this week that its USDC stablecoins are being adopted by retail giants Amazon and Walmart, as well as e-commerce operator Shopify. According to Circle Internet Group (NYSE:CRCL), Shopify began rolling out its feature that enables merchants to accept USDC stablecoins—a cryptocurrency founded by its founders Jeremy Allaire and Sean Neville—for payments and order fulfillment flows. Circle Internet Group (NYSE:CRCL) also said that it partnered with blockchain firm Ripple to bring USDC stablecoins to the latter's XRP Ledger blockchain as well as with digital identity company World for the addition of USDC and CCTP V2 (Cross-Chain Transfer Protocol) on World Chain. Circle Internet jumped by 20.39 percent on Friday to end at $240.28 as investor sentiment was boosted by an investment firm's upgraded rating. On Friday, Circle Internet Group (NYSE:CRCL) earned its first 'buy' recommendation from Seaport Global following the Senate's passage of a legislation that would allow the wide usage of Stablecoins by banks, fintech, and retailers, among others. The news followed Circle Internet Group's (NYSE:CRCL) announcement earlier this week that its USDC stablecoins are being adopted by retail giants Amazon and Walmart, as well as e-commerce operator Shopify. According to Circle Internet Group (NYSE:CRCL), Shopify began rolling out its feature that enables merchants to accept USDC stablecoins—a cryptocurrency founded by its founders Jeremy Allaire and Sean Neville—for payments and order fulfillment flows. A wide angle view of a bustling cityscape, capturing the potential of the consumer internet. Circle Internet Group (NYSE:CRCL) also said that it partnered with blockchain firm Ripple to bring USDC stablecoins to the latter's XRP Ledger blockchain as well as with digital identity company World for the addition of USDC and CCTP V2 (Cross-Chain Transfer Protocol) on World Chain. While we acknowledge the potential of CRCL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
a day 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
Bloomberg
a day ago
- Business
- Bloomberg
Stock Movers: Coinbase, Circle, Enphase Energy
On this episode of Stock Movers: - Coinbase (COIN) rallied 27% this week, becoming the biggest weekly gainer in the S&P. Coinbase secured its Markets in Crypto Assets license from the Luxembourg Commission de Surveillance du Secteur Financier, enabling the company to offer a full suite of crypto products to all 27 EU member states. The company also introduced Coinbase payments for commerce platforms, the first full-stack stablecoin payment solution built for commerce platforms at scale. - Circle (CRCL) shares jumped 20% on Friday after Seaport Global gave the stablecoin issuer its first buy rating in the wake of the US Senate's move this week to pass legislation setting up regulatory rules for cryptocurrencies pegged to the dollar. The company behind USDC, the second-largest stablecoin by market share, has seen its shares rise more than 600% since they started trading earlier this month. Optimism around stablecoin regulations has driven the strength. Seaport analyst Jeff Cantwell sees the global stablecoin market having the potential to reach $2 trillion at some point, from about $260 billion now. That would translate into annual revenue growth of 25%-30% for Circle, he wrote in a note to clients Friday. - Solar stocks like Enphase Energy (ENPH) and First Solar (FSLR) declined this week. Earlier in the week, Senate Republicans released a bill that would end tax credits for wind and solar earlier than for other sources, prompting downgrades for the sector at KeyBanc. The new version of the bill would end incentives for wind and solar in 2028, though tax breaks for other sources of power including nuclear, hydropower and geothermal would be allowed to remain until being phased out in 2036.
Bloomberg
a day ago
- Business
- Bloomberg
Stock Movers: Circle, Kroger, Nvidia
On this episode of Stock Movers: Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Scarlet Fu, Alix Steel, Carol Massar and Tim Stenovec. - Circle (CRCL) shares soared after Seaport Global gave the stablecoin issuer its first buy rating in the wake of the US Senate's move this week to pass legislation setting up regulatory rules for cryptocurrencies pegged to the dollar. The company behind USDC, the second-largest stablecoin by market share, has seen its shares rise more than 600% since they started trading earlier this month. Optimism around stablecoin regulations has driven the strength. Seaport analyst Jeff Cantwell sees the global stablecoin market having the potential to reach $2 trillion at some point, from about $260 billion now. That would translate into annual revenue growth of 25%-30% for Circle, he wrote in a note to clients Friday. - Kroger (KR) shares were higher after its sales surpassed expectations during the latest quarter, a sign that consumers are still spending on groceries and other essentials despite economic turbulence. The nation's largest supermarket operator said its comparable sales, excluding fuel, rose 3.2% — better than what Wall Street analysts were expecting. The company also raised its full-year sales guidance to a range of 2.25% to 3.25%. It reaffirmed the rest of its outlook. Chief Financial Officer David Kennerley told analysts on the company's conference call that Kroger has seen an improvement in grocery volumes in recent quarters, which contributed to growth in the latest quarter. Kroger expects further volume expansion over the rest of 2025. Interim Chief Executive Officer Ronald Sargent said he's optimistic about the rest of the year while citing broader economic uncertainty. - Nvidia (NVDA) shares slumped, along with shares throughout the chip sector on the Wall Street Journal's reporting that a top US official told chipmakers that it's possible waivers they've used to access American technology in China could end up revoked.
Bloomberg
a day ago
- Business
- Bloomberg
Stock Movers: KBR, Circle, Kroger
On this edition of Stock Movers: - KBR (KBR) shares dropped nearly 9%, the most since early November after the engineering company announced its role in the US Transportation Command (TRANSCOM)'s Global Household Goods Contract, which is designed to improve the moving system for military service members and their families. KBR was involved in the contract in a joint venture with HomeSafe Alliance. Bloomberg Intelligence analyst Scott Levine says the termination of the contract may reflect risks to government service providers due to efficiency initiatives imposed by the Trump administration. - Circle (CRCL) shares rose as much as 17% on Friday after Seaport Global gave the stablecoin issuer its first buy rating in the wake of the US Senate's move this week to pass legislation setting up regulatory rules for cryptocurrencies pegged to the dollar. The company behind USDC, the second-largest stablecoin by market share, has seen its shares rise more than 600% since they started trading early this month. Optimism around stablecoin regulations has driven the strength. Seaport analyst Jeff Cantwell sees the global stablecoin market having the potential to reach $2 trillion at some point, from about $260 billion now. That would translate into annual revenue growth of 25%-30% for Circle, he wrote in a note to clients Friday. - Kroger (KR) sales surpassed expectations during the latest quarter, a sign that consumers are still spending on groceries and other essentials despite economic turbulence. The nation's largest supermarket operator said its comparable sales, excluding fuel, rose 3.2% — better than what Wall Street analysts were expecting. The company also raised its full-year sales guidance to a range of 2.25% to 3.25%. It reaffirmed the rest of its outlook. Chief Financial Officer David Kennerley told analysts on the company's conference call that Kroger has seen an improvement in grocery volumes in recent quarters, which contributed to growth in the latest quarter. Kroger expects further volume expansion over the rest of 2025. Shares of the supermarket operator rose.
