Compass Point's Ed Engel explains his downgrade of Circle to 'sell'
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Yahoo
8 hours ago
- Yahoo
Circle stock reels after new acquisition deal
Circle stock reels after new acquisition deal originally appeared on TheStreet. Circle Internet Group (CRCL) has acquired a high-performance consensus engine called Malachite, which has been built by Informal Systems, to power its upcoming Layer-1 blockchain, Arc, which will focus on stablecoin finance. The company aims to provide a testnet with the network later this year. Although the maneuver was strategic, Circle's shares fell sharply on Monday. The stock closed down 5.23% at $141.46, a $7.80 decline from the prior close of $149.26. Selling continued through a day-long decline in the stock, with trading volume of 7.47 million shares - below the average trading volume of 28.1 million shares. In after-hours trading, CRCL showed a small rebound, trading up 0.29% at $141.87 as investors assessed the long-term impact of the Arc initiative. The company currently has a market capitalization of $35.2 billion, with a one-year target price estimate of $182.46, suggesting analysts still see considerable upside potential for CRCL shares. Current EPS (TTM) for the company is -1.75. The acquisition of Informal's Malachite by Circle is in step with Circle's goal to build a next-generation payments ecosystem. In incorporating Malachite into Arc, Circle is introducing an approach to building a scalable consensus engine for use in stablecoin transactions. This is a significant step for Circle, as the firm wants to proceed beyond the USDC to a larger financial infrastructure effort. Malachite is based on a modular Byzantine Fault Tolerant (BFT) architecture that draws upon Tendermint as a way of providing speed, security, and verifiability. If Arc's testnet launches later in 2023, this could provide Circle with a major advantage over other stablecoin issuers by providing a blockchain designed for financial infrastructure. Informal Systems is an incubator for blockchain infrastructure projects. Informal has confirmed that several team members will join Circle to accelerate the development of Arc. Circle stock reels after new acquisition deal first appeared on TheStreet on Aug 18, 2025 This story was originally reported by TheStreet on Aug 18, 2025, where it first appeared. Sign in to access your portfolio
Yahoo
10 hours ago
- Yahoo
Downtown Myrtle Beach restaurant closes after over 30 years in business
A downtown Myrtle Beach institution announced on Monday just before noon that they will be permanently closing their doors in a Facebook post. 'Since opening in 1988 and subsequently the Pub in 2003, we've had the honor of serving generations of families, being the start of many relationships, celebrating your milestones, cheering on the Redskins, and sharing in your everyday moments,' the post read. 'The friendships, laughter, and kindness we've experienced here will stay with us forever.' The final day of service at Dagwood's Deli and Bumstead's Pub will be on Saturday, Aug. 30, according to the post. According to Horry County land records, the downtown Myrtle Beach Dagwood's location is owned by 400 Building Group LLC. State business license records show that the LLC is registered under Jonathan Stanton, the same person who signed off on the closing announcement post. Within the first hour of the post going live, it received over 120 shares and over 106 comments. The deli will keep open their North Myrtle Beach and Surfside Beach locations. This is the second downtown business to announce their closure in recent weeks. Earlier this month, Lucid Coast Candle Company, moved to the Tanger Outlets off of Highway 17 just south of North Myrtle Beach from 9th Avenue in Myrtle Beach's Arts and Innovation District. Prior to that, Le Manna Bakery, formerly located also in the heart of the Arts and Innovation District in downtown Myrtle Beach shut its doors after just over a year from opening. After closing, the shuttered bakery received a check for $125,000 from the City of Myrtle Beach to purchase all of their old equipment. Just a few doors down from Le Manna and across the street from Lucid Coast Candle Company, ESA Fitness also closed its doors for good this spring after being asked to vacate the property from the city. According to previous Sun News reporting, ESA Fitness owed $20,156.69 in unpaid rent to the City of Myrtle Beach. Solve the daily Crossword
Business Insider
2 days ago
- Business Insider
Analysts' Opinions Are Mixed on These Technology Stocks: Circle Internet Group, Inc. Class A (CRCL) and u-blox Holding AG (OtherUBLXF)
Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Circle Internet Group, Inc. Class A (CRCL – Research Report) and u-blox Holding AG (UBLXF – Research Report). Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Circle Internet Group, Inc. Class A (CRCL) Seaport Global analyst Jeff Cantwell reiterated a Buy rating on Circle Internet Group, Inc. Class A today and set a price target of $280.00. The company's shares closed last Friday at $149.26. According to Cantwell is a 5-star analyst with an average return of 11.7% and a 57.5% success rate. Cantwell covers the Technology sector, focusing on stocks such as ACI Worldwide, Fiserv, and Dave. The word on The Street in general, suggests a Hold analyst consensus rating for Circle Internet Group, Inc. Class A with a $174.64 average price target, implying a 23.7% upside from current levels. In a report issued on August 4, Bernstein also maintained a Buy rating on the stock with a $230.00 price target. u-blox Holding AG (UBLXF) Kepler Capital analyst Torsten Sauter maintained a Hold rating on u-blox Holding AG on August 15 and set a price target of CHF105.00. The company's shares closed last Friday at $170.79. According to Sauter is ranked #1974 out of 9981 analysts. The word on The Street in general, suggests a Hold analyst consensus rating for u-blox Holding AG with a $148.36 average price target, representing a -13.1% downside. In a report issued on August 7, UBS also maintained a Hold rating on the stock with a CHF105.00 price target.
