Circle Internet Group (CRCL) Stock Hits New Highs: What's Going On?

Shares of Circle Internet Group Inc CRCL, the issuer of the USDC stablecoin, continued their meteoric rise on Monday, hitting new highs in another volatile session. The rally extends a powerful run since the company's blockbuster IPO on June 5.

What To Know: Circle Internet Group priced its IPO at $31, but the stock, which has captivated investors, opened for trading at $69 and closed its first day on public markets at $83.23 and has continued to see strong momentum.

The surge is being fueled by significant institutional interest, highlighted by a large purchase from Cathie Wood’s ARK Invest shortly after the debut. Wood called the IPO an “amazing debut,” citing the growing role of stablecoins like USDC in creating demand for U.S. dollars.

Read Also: Bitcoin’s Current Cycle Sees A 656% Surge, Matching Market Maturation Pace

Circle is a pivotal player in the digital finance ecosystem, holding over $22 billion in U.S. Treasuries to back its stablecoin, making it one of the largest non-sovereign holders of U.S. debt. The company’s successful IPO marks a key milestone in the integration of stablecoins into global finance.

CRCL Price Action: According to data from Benzinga Pro, CRCL shares were trading up 15.4% at $154.82 at the time of publication Monday. The stock set a new 52-week high of $165.60 on Monday before pulling back. Session trading volume was above 29 million shares midday Monday, compared to its average of approximately 36 million.

Read Also: Lockheed Martin Stock Is Falling Monday: What’s Going On?

How To Buy CRCL Stock

By now you're likely curious about how to participate in the market for Circle Internet Group – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

Image: Shutterstock