Circle Internet Group (CRCL) Stock Plunges 9% Despite Record Revenue and USDC Growth
Circle Internet Group's stock tumbled 9.3% to $89.15 post-Q3 earnings, defying expectations after reporting a 66% revenue surge to $740 million and a 202% net income jump to $214 million. The market's bearish reaction contrasts sharply with the company's fundamental performance, underscoring the disconnect between operational success and investor sentiment in volatile crypto markets.
USDC adoption continues its upward trajectory, yet failed to buoy CRCL shares. The stablecoin's growth highlights Circle's entrenched position in digital finance, even as macroeconomic forces overshadow quarterly results. Adjusted EBITDA of $166 million further confirms underlying business strength.