Circle Internet Group (NYSE:CRCL) is one of the stocks Jim Cramer talked about. Cramer highlighted the stock’s gain to nearly $300 post-IPO. The Mad Money host commented:
“Alright, let’s start with Circle Internet Group. Let me explain how this works. This is a stablecoin issuer. On paper, this one’s a standout. It’s up 160% from where it came public. But Circle’s IPO priced at $31, and then it opened at $69, then zoomed all the way to $299 in less than 3 weeks after it came public. Ever since, the stock’s practically been in freefall, now it’s back to $80 and change. So, sure, yes, it’s a big win if you got in on the IPO. Very few people did, but unless you did, well, you know what? You’re down big in this, big… Circle Internet came public, more than tripling in its first few days, I said you had to cool your jets. Good call. Of course, Circle proceeded to surge from $115 at the time to just under $300 over the next couple weeks… But if you sold when I went negative, you still would have avoided some massive losses down the road. Maybe that’s the key.”
Stock market data. Photo by Jakub Zerdzicki on Pexels
Circle Internet Group (NYSE:CRCL) operates a stablecoin-based financial platform that helps organizations move money and build applications using digital assets.
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Disclosure: None. This article is originally published at Insider Monkey.
