Tag: third-quarter

Why Circle’s Stock Has Fallen Back to Its IPO Opening Price

The post Why Circle’s Stock Has Fallen Back to Its IPO Opening Price appeared com. Circle’s (CRCL) stock has erased nearly all of its post-IPO gains, retracing back to its opening price despite strong third-quarter earnings and accelerating USDC growth. The sharp reversal reflects rising supply pressure, expiring lockups, and a shifting stablecoin market, all while major institutions turn increasingly bullish on Circle’s long-term moat. Circle Round-Trips Its Entire Post-IPO Rally Stablecoins remain one of the most promising use cases of crypto, dominated by Tether and Circle. However, the latter, Circle, is the only major issuer that allows public investors to invest, with its IPO in early June attracting an explosive volume of interest or subscription. Sponsored Sponsored *CIRCLE IPO IS SAID TO BE OVER 25 TIMES OVERSUBSCRIBED *Walter Bloomberg (@DeItaone) June 4, 2025 Nonetheless, despite initial interest, it has wiped out all the gains. MoonRock Capital founder Simon Dedic noted that CRCL has basically round-tripped its entire run and is now back at its IPO opening price. Cirlce (CRCL) Price Performance. He also noted that today marks an unlock for early investors, meaning a significant portion of the supply could enter the market as Circle IPO investors capitulate. In his opinion, this could add short-term volatility but also create attractive entry points. This round trip brings to mind the fact that Coinbase IPO investors recorded their first profits on July 21, 2025, nearly four years after the company went public. Strong Q3 Results Contrast with Circle Stock Decline While the stock retraced, Circle’s fundamentals strengthened. App Economy Insights highlighted Circle’s Q3 numbers: Sponsored Sponsored USDC circulation up 108% YoY to $74 billion Revenue up 66% YoY to $740 million (a $40 million beat) Adjusted EBITDA up 78% YoY to $166.