Circle Shares Surge Nearly 200% After IPO, Exceeds US$90
Shares of stablecoin issuer USDC, Circle Internet Group, soared sharply after officially listing on the exchange on Thursday (06/05) local time. The share price immediately broke the US$90 per share mark, far above its initial offering price.
According to data from TradingView, shares with the code CRCL are on track to close well above the IPO price of US$31. The significant price spike even prompted a temporary halt in trading on the New York Stock Exchange.
Since Circle announced its final plans to go public, the company's potential valuation and share price have continued to show an increase.
"The company and its supporters, including Allaire, successfully sold 34 million shares at approximately US$31 per share, raising around US$1.1 billion," the report stated on Wednesday (06/04).
Previously, Circle had raised the range of its share offering price from an initial US$24–US$26 to US$27–US$28 per share. This change reflects increasing market confidence in the company's business prospects in the crypto sector.