A handful of IPOs and SPACs debuted this past week, led by software unicorn Figma, which soared +250% in the best first day for a billion-dollar IPO ever. Four IPOs are currently scheduled to list in the week ahead, as the regular summer drop in IPO activity looks set to begin. Street research is expected for six companies in the week ahead, and six lock-up periods will be expiring.
Circle's growth potential extends far beyond USDC reserve yield. They have a secret weapon. I project Circle's total revenues could reach $12 billion by 2030, driven by high-margin software and fintech services integrated with stablecoins. Circle's Q2 earnings will be pivotal, especially regarding USDC adoption, platform revenue growth, and updates on the Coinbase revenue-sharing agreement.
CRCL's prospects are fueled by growing stablecoin usage, but a premium valuation makes the stock risky.