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.

Circle Internet Climbs 11.4% on Bargain-Hunting

Panelists discuss the future of bitcoin and blockchain at a New York Alternative Investments Roundtable event. (Photo: Insider Monkey/ Madison Morgan)

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.

While we acknowledge the risk and potential of CRCL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CRCL and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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