Circle (CRCL) opened down ~6% this morning, from Friday's $62.58 close into the high $58s. First minute alone traded ~1.9M shares, near a quarter of a normal day's volume, in 60 seconds.
Why: Morgan Stanley cut Circle to Underweight, slashed its target 60% to $38. Same morning, TD Cowen initiated at Buy, still liking the platform's economics. Two banks, opposite calls, same day, right at the open.
Backdrop: Circle reports Q2 earnings Wednesday, market expects a YoY decline, days after Circle landed a New York trust charter for USDC. Bernstein trimmed its target too but kept Outperform.
Not financial advice, just wild watching a stock get pulled two ways by two banks in one morning, on a company whose whole business is 24/7 digital dollars.
Downgrade or initiation, which would you trust? Would a split call like this make you more or less likely to touch it before earnings?
Full story: https://www.bonuz.xyz/en/blog/wall-street-cant-agree-on-circles-stablecoin-stock
#Circle #CRCL #Stablecoins