Circle Internet Corp. (CRCL) saw its stock price surge an additional 5.01% in after-hours trading on Thursday, building on the momentum from its impressive New York Stock Exchange debut earlier in the day. The continued upward movement reflects sustained investor enthusiasm for the stablecoin issuer following its highly successful initial public offering (IPO).

In its first day of trading, Circle's stock opened at $69 per share, more than doubling its IPO price of $31. The shares continued to climb throughout the session, at one point reaching as high as $103.75 before settling at $82.88 by market close, marking a 167% gain from its initial offering price. This strong performance valued the company at approximately $18.3 billion.

The robust investor demand for Circle's shares stems from growing interest in cryptocurrency-related businesses, particularly those focused on stablecoins. Circle is the issuer of USDC, the second-largest stablecoin by market capitalization. The company's successful public debut comes amid increasing regulatory clarity for stablecoins and growing adoption of digital assets in traditional finance.

Circle's CFO, Jeremy Fox-Geen, commented on the company's first day of trading, stating, "This is a tremendous moment for Circle. But it is still the early days for our mission. We're focused on building and expanding uses of new money technologies." The after-hours price movement suggests that investors continue to see potential for growth in Circle's business model and the broader stablecoin market.