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Circle Internet Group Stock Remains in High Demand After IPO
Investors' demand for shares of Circle Internet Group (CRCL) shows no early signs of slowing down.
Last Wednesday, the USDC stablecoin issuer priced its upsized initial public offering (IPO) at $31 per share, above its expected range of $27 to $28. The stock opened Thursday on the New York Stock Exchange (NYSE) at $69 and finished at $83.23—168% above its IPO price.
The surge continued Friday, with shares jumping nearly 30% to close at $107.70, and the stock was up a further 17% shortly after the opening bell Monday.
USDC is the seventh-largest cryptocurrency, with a market cap of about $61 billion. Bitcoin, the largest cryptocurrency with a market cap of roughly $2.14 trillion, is up 1% Monday at more than $107,500.
UPDATE—This article has been updated with the latest share price information.
This article has been published in Investopedia via Yahoo News.
