Circle's share price soared on its second trading day, nearing quadruple its IPO price of $31, reaching a peak of $123.51. This remarkable surge follows a strong debut on the New York Stock Exchange, where it closed the first day at $69, climbing to a market cap of $21.7 billion. Equipped with an impressive initial offering that raised nearly $1.1 billion, Circle's stock is drawing significant investor interest alongside the concurrent rise of Bitcoin, which has recovered to over $105,000. Experts caution that potential investors should wait for the lockup period to end before buying into CRCL, as early insider selling could introduce volatility. Circle's revenue predominantly comes from interest earned on the cash backing its stablecoins, raising concerns about future profitability if interest rates decline. While analysts express optimism about the broader stablecoin market, Circle's immediate future faces scrutiny amidst concerns of sustainability post-IPO.

Source 🔗