Movement Alert|Circle Internet Corp. Falls 5.05% in Regular Trading, Raymond James Initiates with Neutral Rating Below Consensus

Market Focus07-22 23:46

On July 22, Circle Internet Corp. fell 5.05% in regular trading, trading at $68.08/share, with turnover of $305 million.

On the news front, Raymond James initiated coverage on Circle Internet Corp. with a \"Market Perform\" rating, which falls below the analyst consensus of \"overweight\" and the mean price target of $123.08 according to FactSet polling. The neutral stance suppressed short-term bullish sentiment as the market had broadly expected a more constructive outlook from new coverage.

Additionally, the stock had surged 8.6% in the prior session, driven by the company's OCC-approved national trust bank charter and a partnership with Japan's largest credit card network JCB to explore USDC cross-border payment applications. The sharp prior-day rally amplified profit-taking pressure in today's session. On-chain data also showed Solana received $330 million in stablecoin inflows over 24 hours, primarily driven by Circle, reflecting continued USDC demand expansion.

(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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