Stock Track | Circle Internet Soars 5.03% Intraday as Analysts Upgrade Stock Following Rival Stablecoin Pressure

Stock Track
07/01

Circle Internet Corp. (CRCL) shares surged 5.03% during intraday trading on Wednesday, marking a significant rebound for the stablecoin issuer.

The move follows a steep 17% plunge in the previous session after a consortium including Visa, Mastercard, and Coinbase launched a rival stablecoin network called Open Standard, which plans to issue a U.S.-dollar pegged stablecoin called Open USD. This development intensified competition in the stablecoin infrastructure sector, putting pressure on Circle, which operates USDC, the world's second-largest stablecoin.

The stock's recovery was bolstered by analyst actions, including Compass Point upgrading Circle Internet to Neutral from Sell and adjusting its price target. Additionally, Morgan Stanley provided supportive commentary, stating it is "very unlikely" that Coinbase would voluntarily end its partnership with Circle, offering reassurance about the company's key business relationships amidst growing competition.

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

熱議股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10