Circle Internet (CRCL) Books Double Digit Gains on $1.1 Billion Fresh Funds

We recently published a list of These 10 Stocks Are Flying High. In this article, we are going to take a look at where Circle Internet Group (NYSE:CRCL) stands against other best-performing stocks on Wednesday.

Circle Internet surged by 10.66 percent on Wednesday to close at $117.20 apiece as investor sentiment was buoyed by the successful raising of $1.1 billion in fresh funds through an upsized initial public offering (IPO).

Circle Internet Group (NYSE:CRCL), a newly listed cryptocurrency company, said in a statement that its underwriters have fully exercised the option to purchase 5.1 million of its shares, bringing its total proceeds to $1.1 billion.

In just five days of being a publicly listed company, Circle Internet Group’s (NYSE:CRCL) share price already surged by as high as 289 percent after hitting $120.49 at intraday trading on Wednesday.

Circle Internet Group (NYSE:CRCL) joined Coinbase, MARA Holdings, and Riot Platforms in the US stock exchange’s few pure-play cryptocurrency companies.

Circle Internet (CRCL) Books Double Digit Gains on $1.1-billion Fresh Funds

A close-up of a computer monitor showcasing the trading of digital currency.

“We’ve been one of the most licensed, regulated, compliant, transparent companies in the entire history of this industry, and that’s served us well,” said Circle Internet Group (NYSE:CRCL) CEO Jeremy Allaire in an interview with CNBC.

Overall, CRCL ranks 7th on our list of best-performing stocks on Wednesday. While we acknowledge the potential of CRCL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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