🗣️ The Circle Internet Group stock rises amid strong quarterly revenue

Shares of Circle Internet Group (NYSE: CRCL) soared on Tuesday after the release of its first quarterly report as a public company. Although expenses related to the debut of the stablecoin issuer contributed to losses in Q2, the company reported a 53% increase in revenue due to significant growth in the stablecoin market. Revenue rose to $658.1 million from $430 million in the same period a year earlier. The company's shares increased by 6%. Since going public on June 5, the company's stock has skyrocketed by more than 450%.