Circle Internet (CRCL) Drops on Profit-Taking After 347% Surge

We recently published a list of Investors Are Dumping These 10 Stocks. Circle Internet Group (NYSE:CRCL) is one of the worst-performing stocks on Thursday.

Circle Internet pulled back by 7.28 percent at intraday trading on Thursday at $108.67 apiece as investors continued to take profits after rallying as high as 347 percent in just the past seven trading days.

The recent price surge reflected strong investor confidence, further supported by its successful raising of $1.1 billion in fresh funds through an upsized initial public offering.

Circle Internet (CRCL) Drops on Profit-Taking After 347% Surge

Source: PixaBay

On Wednesday, Circle Internet Group (NYSE:CRCL) announced that its underwriters fully exercised the option to purchase 5.1 million of its shares, bringing its total proceeds to $1.1 billion.

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

“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.

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.