On May 11, Circle Internet Corp. fell 6.33% in regular trading, trading at $112.07/share, with trading volume of $1.148 billion. The stock had initially surged over 8% before reversing sharply lower after the company reported first-quarter results that fell short of Wall Street estimates.
Circle posted Q1 total revenue and reserve income of $694 million, up 20% year-over-year but below the market consensus estimate of $721 million. Net income from continuing operations came in at $55 million, representing a 15% year-over-year decline. As the issuer of stablecoin USDC, Circle reported a 28% year-over-year increase in USDC circulation, yet the revenue miss and profit contraction weighed heavily on investor sentiment. The earnings release had been closely watched as a key catalyst, with the options market previously implying a post-earnings move of approximately ±12.8%. The sharp intraday reversal from early gains to a steep decline reflects investor disappointment over the gap between top-line growth and profitability expectations, amid ongoing scrutiny of the pending stablecoin regulatory framework.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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