In brief
- Circle’s stock price peaked at $123 on Friday, effectively quadrupling since its IPO yesterday.
- Its first-day surge outpaces even tech darlings like Airbnb, which doubled its IPO price at launch in 2020.
- Circle’s market capitalization, however, is lower than those of such tech giants.
Circle’s dynamite IPO this week wasn’t just impressive by crypto standards—it outperformed expectations to a degree unrivaled even by America’s most prominent tech companies.
The evening before its Thursday trading debut on the New York Stock Exchange, Circle priced its stock, CRCL, at $31 a share. That represented a mark-up from the lower share prices the firm floated earlier in the week: $26, and then $28. Such last-minute moves are generally indicative of increased investor interest in a company’s stock market debut.
But nothing could have prepared Wall Street for the stablecoin issuer’s bombshell f
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Author: Sander Lutz
