Circle Stock Surges 168% on NYSE Debut, Signaling IPO Market Revival
Circle’s first trading day on the New York Stock Exchange ends with a $16.7 billion valuation after a strong IPO, raising investor hopes for more tech listings.
Circle’s Stock Jumps in Market Debut
Circle made a stunning entrance on the New York Stock Exchange, with its stock closing up 168% on its first trading day. The stablecoin issuer now holds a market cap of approximately $16.7 billion, a major leap from its previous private valuation of $9 billion. This strong performance is raising optimism that the IPO market may finally be bouncing back.
IPO Raises $1.1 Billion After Pricing Above Expectations
Circle priced its IPO at $31 per share, above the expected $27 to $28 range. The company sold 34 million shares, surpassing its original plan of 24 million. This pushed the total raised to $1.1 billion. Underwriters—JPMorgan, Citigroup, and Goldman Sachs—also hold an option to sell an additional 5.1 million shares.
Trading opened at $69.50 and quickly surged, closing at $83.29. The sharp movement triggered a brief trading halt due to volatility.
Circle’s Role in the Stablecoin Market
Founded in 2013, Circle issues USD Coin (USDC), a widely used stablecoin. The company holds around 27% of the global stablecoin market, ranking second only to Tether. It has received funding from top investors like Coinbase, BlackRock, and Accel.
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Circle Could Spark a New Wave of IPOs
Circle, now trading under the ticker symbol CRCL, is among the first major fintech companies to go public in 2025. Its successful IPO may encourage others to follow. Chime Financial and Slide Insurance are expected to list soon, with Chime’s Nasdaq debut planned for June 12.
Other fintech companies such as Klarna and Stripe are also watching the market closely. Klarna filed IPO paperwork earlier this year but delayed plans due to stock market uncertainty. Stripe may remain private for now, given its strong funding position.
More Tech IPOs on the Horizon
Beyond fintech, several tech companies are preparing to go public. Omada Health, a digital health firm, is pricing its IPO today and plans to list tomorrow. Voyager Technologies, a space tech company, will debut on June 11.
Valuations Reflect Market Reality
Despite the strong showing, Circle’s IPO valuation started below its last private valuation, showing how unicorn valuations have shifted. Other companies face similar trends. Chime is reportedly targeting a valuation about 50% lower than its last private round. Omada Health is pricing its IPO near its previous valuation of $1.1 billion.
Recent IPOs like Hinge Health and eToro also went public at lower valuations than they held as private firms.