Wrong ‘CRCL’ Stock Up 16,689% Before Circle IPO: How and Why of It
The post Wrong ‘CRCL’ Stock Up 16,689% Before Circle IPO: How and Why of It appeared on BitcoinEthereumNews.com. Key Insights: Circle to IPO Thursday on NYSE as CRCL. Traders confused Corcel PLC for Circle. Corcel spiked 16,689% over the last 5 days on 1M-share buy. Circle ups IPO range to $27–28. On Monday, June 2, 2025, traders at the London Stock Exchange opened early for trading in anticipation of Circle IPO ON June 5th. A block of 1 million shares of Corcel PLC (ticker CRCL.L) traded at about $0.34 around 8:06 AM UK time. In context, Corcel’s prior trade had been only about $0.0117. The sudden buy order was driven by confusion: Circle Internet (issuer of the USDC stablecoin) is set to list on the NYSE this week under the ticker CRCL, and some investors mistakenly bought Corcel, whose London ticker is also CRCL. Circle’s IPO is now expected to price on Wednesday, June 4 and begin trading on June 5, 2025. Traders Spike Wrong CRCL Stock +16,000% Corcel is normally a thinly traded small-cap mining stock. For perspective, its 12-month LSE trading range was roughly $0.0117 to $1.525, and its prior-day close on June 2 was about $0.38. On the morning of the error, Corcel opened at $0.41 and stayed near that level. However, trading volume exploded. Reuters data show about 135 million shares changed hands on June 2, versus a three-month average of only 0.68 million. That volume rise and the high $0.34 trade pushed Corcel’s five-day gain to an astonishing 16,689% as tracked by Yahoo Finance. By market close, the stock was up roughly 5% on the day (reflecting the new level around £0.32), but its multi-day gain was monumental. Such a jump is orders of magnitude beyond normal price moves. (For example, FINRA rules would normally nullify any trade more than 10% off the reference price for a stock under $25.) The episode highlights Corcel’s illiquid…
The post Wrong ‘CRCL’ Stock Up 16,689% Before Circle IPO: How and Why of It appeared on BitcoinEthereumNews.com.
Key Insights: Circle to IPO Thursday on NYSE as CRCL. Traders confused Corcel PLC for Circle. Corcel spiked 16,689% over the last 5 days on 1M-share buy. Circle ups IPO range to $27–28. On Monday, June 2, 2025, traders at the London Stock Exchange opened early for trading in anticipation of Circle IPO ON June 5th. A block of 1 million shares of Corcel PLC (ticker CRCL.L) traded at about $0.34 around 8:06 AM UK time. In context, Corcel’s prior trade had been only about $0.0117. The sudden buy order was driven by confusion: Circle Internet (issuer of the USDC stablecoin) is set to list on the NYSE this week under the ticker CRCL, and some investors mistakenly bought Corcel, whose London ticker is also CRCL. Circle’s IPO is now expected to price on Wednesday, June 4 and begin trading on June 5, 2025. Traders Spike Wrong CRCL Stock +16,000% Corcel is normally a thinly traded small-cap mining stock. For perspective, its 12-month LSE trading range was roughly $0.0117 to $1.525, and its prior-day close on June 2 was about $0.38. On the morning of the error, Corcel opened at $0.41 and stayed near that level. However, trading volume exploded. Reuters data show about 135 million shares changed hands on June 2, versus a three-month average of only 0.68 million. That volume rise and the high $0.34 trade pushed Corcel’s five-day gain to an astonishing 16,689% as tracked by Yahoo Finance. By market close, the stock was up roughly 5% on the day (reflecting the new level around £0.32), but its multi-day gain was monumental. Such a jump is orders of magnitude beyond normal price moves. (For example, FINRA rules would normally nullify any trade more than 10% off the reference price for a stock under $25.) The episode highlights Corcel’s illiquid…
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