Circle’s Stock Price Slumps Following Downgrade from Mizuho Securities

Mizuho Securities has downgraded Circle’s stock rating, lowering its price target to $70 due to concerns about the company’s medium-term earnings. The firm cited factors like stagnant USDC circulation, rising costs, and potential interest rate cuts as contributing to this decline. This comes amidst a 40% drop in Circle’s stock value over the past month. Despite this bearish sentiment, the stablecoin issuer’s USDC continues to trade at its stable price of $1.00, showing resilience despite market fluctuations.