Seasoned investor Cathie Wood on Monday praised an analyst from Ark Invest’s Digital Assets team for their successful take on Circle Internet Group, Inc. (NYSE:CRL) from a month ago.
What Happened: Wood took to X to welcome Raye Hadi, the new member of the cryptocurrency research team, and praised their immediate impact, notably their work on Circle, the issuer of USDC (CRYPTO: USDC) stablecoin.
“Circle's successful IPO could inspire more crypto-native firms to pursue public listings, further highlighting the sector's role as an innovator in the global financial infrastructure space,” the blog post read.
Why It Matters: Circle began June with an IPO priced at $31 per share. The stock opened for trading on the New York Stock Exchange at $69 per share and has continued to see strong momentum.
CRCL exploded to $240 apiece by June 20, but has since retreated. Nonetheless, it has rallied over 92% during the past month of trading, surpassing the S&P 500.
Wood deemed the IPO an "amazing debut," with her firm ARK Invest bagging hundreds of millions worth of the company's shares immediately.
Price Action: Shares of Circle were down 0.70% in after-hours trading after closing 9.90% higher at $207.46 during Monday’s regular trading session, according to data from Benzinga Pro.
Are you looking for cryptocurrency-linked stocks for your portfolio? Check out Benzinga Edge Stock Rankings to filter out the best performers on key measures such as Momentum, Growth, and Quality.
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