Why Circle Internet Group (CRCL) Soared On Friday
We recently published a list of . In this article, we are going to take a look at where Circle Internet Group (NYSE:CRCL) stands against other Friday's best-performing stocks.
Circle Internet Group soared by 29.40 percent on Friday to close at $107.7 apiece, reflecting a continued strong investor confidence during its second day as a publicly listed company.
Since its market debut on Thursday, June 5, the company's share price has already surged by 247 percent from its initial public offering price of $31.
Circle Internet Group (NYSE:CRCL) joined Coinbase, MARA Holdings, and Riot Platforms in the US stock exchange's few pure-play cryptocurrency companies.
Copyright: belchonock / 123RF Stock Photo
Thursday also marked its second attempt at going public, after a merger plan with a special purpose acquisition company collapsed in late 2022.
'To realize our vision, we needed to forge relationships with governments, we needed to work with policymakers … because if you want this to work for mainstream, it's got to work in mainstream society and you need to have those rules of the road,' said Circle Internet Group (NYSE:CRCL) CEO Jeremy Allaire in an interview with CNBC.
'We've been one of the most licensed, regulated, compliant, transparent companies in the entire history of this industry, and that's served us well.'
Overall, CRCL ranks 1st on our list of Friday's best-performing stocks. While we acknowledge the potential of CRCL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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