Circle Internet Group (CRCL) “Does Not Like My Analysis,” Says Jim Cramer

We recently published 10 Stocks Jim Cramer Discussed As He Questioned Official Data. Circle Internet Group (NYSE:CRCL) is one of the stocks Jim Cramer recently discussed.

Circle Internet Group (NYSE:CRCL)’s shares have gained 84% year-to-date due to its place in the stablecoin industry and favorable legislation for the digital tokens. However, the stock is down by 25% over the past month on the back of several catalysts such as the firm’s announcement to raise capital through a share sale. Cramer’s previous comments about Circle Internet Group (NYSE:CRCL) have outlined that while it does have the benefit of being an early mover in the industry, the lead might not last due to no competitive advantage. He maintained the sentiment this time as well:

“Well I just think, I still believe and I know that Circle, does not like my analysis, necessarily. They’re . .actually very forthcoming guys and they have a good rap. But, I just think that other companies can do it. They do, David, have a tremendous first mover advantage. And it does matter. Coinbase did too, I mean it’s just first mover advantage.

Here are his previous thoughts about Circle Internet Group (NYSE:CRCL):

“Next up, the larger deal was Circle Internet Group. The IPO market was starting to heat up… by the time Circle came public in early June. But even though Circle upsized its deal significantly and raised its offer price range and then still priced well above the high end of the range, it wasn’t ambitious enough. Deal priced at 31, but the stock opened for trading at 69. Within three weeks, it was nearly at 300. It’s since cooled off around, they’ve come down to 165, but that’s still probably way too high. I think winners from CoreWeave rolled their take into Circle and turned it into a meme stock.”

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