Circle (CRCL) stock skyrocketed during the stablecoin issuer’s first day of trading on the New York Stock Exchange, closing at $82.84 a share, a 167% bump from its IPO price.
Circle’s public debut has been closely watched by the crypto industry, and the strong investor demand for its stock bodes well for the 2025 and 2026 exit prospects of other companies.
Circle priced its IPO at $31 a share, above its target $27-$28 range, giving it a valuation of about $18 billion. Trading then opened at an eye-popping $69 a share, eliciting the usual complaints about the IPO process’s mispricing and concerns that the company left significant capital on the table that it could have pocketed.
This post appeared on Morningstar.