Circle Internet Group (CRCL) stock rocketed up 186% off its IPO price on Thursday afternoon after its debut opened at 12:38 EST. The CRCL shares were set to debut at $31 per share but quickly shot up to $88.88 in the first few minutes on the New York Stock Exchange.
CRCL 1-minute chart
Circle is the issuer of USD Coin (USDC), the second-largest stablecoin in the crypto industry by market cap. The circulating supply of USCD is $61.48 billion at the time of writing, close to the market cap of Claude AI maker Anthropic during its latest funding round.