On July 20, Circle Internet Corp. rose 5.56% in regular trading, trading at $64.09/share, with turnover of $187 million. The stock rebounded from the $61 level where it had been pressured following Mizuho Securities' downgrade.
The recovery comes after Mizuho cut Circle's rating from Neutral to Underperform on July 14, slashing its target price from $85 to $50, citing intensifying competition from Open USD — a stablecoin alliance comprising BlackRock, Coinbase, Mastercard, Stripe, Visa, and over 140 other firms. The downgrade had triggered a sharp selloff, creating oversold conditions.
Supporting the rebound, Circle recently secured OCC approval to establish Circle National Trust as a federally regulated national trust bank, and signed a partnership with Japan's JCB — the country's largest credit card network with 140 million users — to explore USDC-based cross-border payments. Additionally, Circle has minted over 70.26 billion USDC on Solana in the current year. However, SEC filings reveal President Heath Tarbert has sold approximately $30.77 million in CRCL shares across 10 transactions since June of last year.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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