Jim Cramer discussed Circle Internet Group on his show. The stock, trading under NYSE:CRCL, was highlighted for its performance.
Cramer noted that Circle Internet Group's stock gained to nearly $300 after its initial public offering. He said the IPO priced at $31, then opened at $69. The stock reached $299 in less than three weeks following its debut.
"Alright, let's start with Circle Internet Group. Let me explain how this works. This is a stablecoin issuer. On paper, this one's a standout. It's up 160% from where it came public," Cramer commented. "But Circle's IPO priced at $31, and then it opened at $69, then zoomed all the way to $299 in less than 3 weeks after it came public. Ever since, the stock's practically been in freefall, now it's back to $80 and change."
He continued: "So, sure, yes, it's a big win if you got in on the IPO. Very few people did, but unless you did, well, you know what? You're down big in this, big... Circle Internet came public, more than tripling in its first few days, I said you had to cool your jets. Good call. Of course, Circle proceeded to surge from $115 at the time to just under $300 over the next couple weeks... But if you sold when I went negative, you still would have avoided some massive losses down the road. Maybe that's the key."
Circle Internet Group operates a financial platform based on stablecoins. The company helps organizations move money and build applications using digital assets.