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Wall Street analyst has a blunt warning on surging stock
Circle (CRCL), the public issuer of stablecoin USDC, saw its shares shrink as much as 8% on July 22, after Compass Point downgraded the stock from "Hold" to "Sell," citing valuation concerns and increased competition in the digital asset market. The firm also reduced its price target on Circle to $130, down from $205, which suggested a pullback after the company's huge post-IPO run. At press time, CRCL was trading at $199.24, down 7.80% over the last day. Circle stock has increased over 500% since launching on June 5, and Growth has been fueled by the energized market environment spawned by the introduction of the ... (full story)