CRCL, U, RGTI: 3 Industry Leaders Breaking Out Wednesday

Though the major indices are red in early Wednesday trading, three momentum leaders are breaking out on news-driven catalysts, including:

Circle Jumps on GENIUS Act Progress

Zacks Rank #3 (Hold) stock Circle Internet Group (CRCL) is the leading stablecoin issuer in the United States. In a partnership with Coinbase Global (COIN), the company manages the USD Coin (USDC), a cryptocurrency designed to maintain a stable value and pegged to the US dollar. Through stablecoins like USDC, can send money globally much more efficiently than with fiat and at a significantly lower cost. However, one of the major roadblocks to widespread use is the regulatory red tape that has hindered progress. That said, CRCL, one of the top performing IPOs of 2025, rose in early trading after President Donald Trump disclosed that 11 of 12 House representatives have agreed to support the GENIUS Act, a piece of legislation that outlines a regulatory framework for stablecoins. A vote is expected to take place on Wednesday afternoon.

Unity Software Breaks Out After Jefferies Upgrade

An analyst at Jefferies upgraded the Zacks Rank #2 (Buy) stock Unity Software (U) on Wednesday, assigning the stock a $35 price target. The analyst cited Unity’s new niche AI platform, ‘Vector’ which focuses on optimizing advertising and acquiring new users in the mobile gaming industry. Vector leverages in-game behavior and user patterns to produce pinpointed ads. Wall Street analysts tracked by Zacks Investment Research expect robust double-digit EPS growth through 2026.

Rigetti Soars on Quantum Computing Performance Achievement

Rigetti Computing (RGTI), a leader in full-stack quantum-classical computing, announced that it achieved a mid-year performance milestone for its quantum computer. The breakthrough, which encompasses achieving a 99.5% median fidelity rate for two-qubit gates on its 36-qubit modular system, represents a twofold improvement in its quantum computing capabilities and is a critical step toward building a reliable quantum computing system. RGTI shares are poised to break out to multi-month highs on the news and may be further driven further by a short squeeze. Roughly 20% of the RGTI float is currently short.

Bottom Line

The animal spirits are alive and well on Wall Street as momentum names like Circle, Unity Software, and Rigetti break out on volume.

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This article originally published on Zacks Investment Research (zacks.com).

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