$USDC USDC Issuer Circle Debuts on Stock Exchange with Extreme Volatility and Multiple Suspensions

The issuer of USDC, Circle Internet Group, began trading on the New York Stock Exchange and was almost immediately suspended after the price of its shares tripled its IPO opening mark of $31.

In less than an hour, CRCL was suspended three times. Each time it was a LULD (Limit Up-Limit Down) pause, meaning that the price and trading volume exhibited extreme volatility.

It is the same reason cited when GameStop, trading on Nasdaq under the symbol GME, was suspended 9 times last year when investor enthusiasm for the return of the meme stock icon Roaring Kitty (also known as Keith Gill) drove the stock price up.

Circle has been trying to go public since 2021, but later canceled it and finally raised $1.1 billion in this week’s launch. In the days leading up to CRCL’s debut on the NYSE, there were rumors and then confirmation that its IPO round was oversubscribed.