Why Circle Internet Group Stock Sank 20% This Week

This week has not been kind to high-tech investors. Shares of Circle Internet Group (NYSE: CRCL) fell 20% as of this writing after market close on Nov. 13, due to a weak reaction to its latest earnings result. The stablecoin issuer is growing quickly, but investors fear the stock's upcoming lock-up period and how falling interest rates will impact its interest income.Shares of Circle Internet Group have now round-tripped the price of its initial public offering (IPO) this spring, sitting at a price below $100 a share. Here's why investors are nervous about this company, even after fast Q3 earnings growth.On the whole, Circle's Q3 numbers looked strong. Total revenue grew 66% to $740 million, net income was positive $214 million, and USDC (the company's stablecoin) in circulation grew 108% year over year to $73.7 billion. So what caused investors to sell off?Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool