🔴 CRCL is trading 3.7% down today after Wolfe Research slashed its price target to $40

CRCL is trading at $55.71 (-3.72%) after Wolfe Research downgraded the stock to Underperform and cut its price target from $65 to $40.

• Analyst Daniel Krebs cited projections of materially lower performance, implying a 31% downside from the previous close of $57.86.
• The move aligns with broader market pressure as the NASDAQ drops 1.72% and major cryptocurrencies BTC (-1.68%) and ETH (-1.88%) decline.
• Investors remain cautious due to rising expenses, regulatory uncertainty, and a series of downward earnings revisions.