Circle stock has been on a wild ride lately
After a meteoric rise of over 700% since its IPO on June 5, it's now facing some turbulence:
- Today, the stock dropped nearly 16%, partly due to Cathie Wood’s ARK Invest selling $110 million worth of shares.
- Analysts are also sounding caution. Compass Point initiated coverage with a $205 price target—below its current trading price—citing rising competition in the stable coin space.
- Despite the dip, some still see long-term potential. A recent Forbes analysis explored whether Circle could hit $500 per share, driven by growth in USDC reserves and infrastructure revenue.
After a meteoric rise of over 700% since its IPO on June 5, it's now facing some turbulence:
- Today, the stock dropped nearly 16%, partly due to Cathie Wood’s ARK Invest selling $110 million worth of shares.
- Analysts are also sounding caution. Compass Point initiated coverage with a $205 price target—below its current trading price—citing rising competition in the stable coin space.
- Despite the dip, some still see long-term potential. A recent Forbes analysis explored whether Circle could hit $500 per share, driven by growth in USDC reserves and infrastructure revenue.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.