Circle Internet (CRCL) Climbs 11.4% on Bargain-Hunting

We recently published 10 Stocks Stealing Market Spotlight. Circle Internet Group (NYSE:CRCL) is one of the best performers on Wednesday.

Circle Internet surged by 11.43 percent on Wednesday to close at $86.29 apiece as investors continued to hunt for bargains after the stock’s steep fall last month.

During the period, Circle Internet Group (NYSE:CRCL) was down by 37 percent versus October, to even hit a low of $64—a level it last touched in its market debut in June.

Circle Internet Group (NYSE:CRCL) is a global financial technology firm that created the USDC and EURC stablecoins.

In the third quarter of the year, the company grew its net income by 202 percent to $214.38 million from only $70.996 million in the same period last year.

Total revenues and reserve income jumped by 66 percent to $739.76 million from $445.76 million year-on-year, on the back of a 97 percent growth in USDC circulation, alongside strong revenues from subscription and services, as well as transactions.

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Disclosure: None. This article is originally published at Insider Monkey.