US Stock Market Move | Circle (CRCL.US) fell by 8% after directors continuously sold a total of 291,000 shares of common stock.

On Wednesday, Circle (CRCL.US) fell by 8%, closing at $70.41. It is reported that the company's stock price has been declining continuously since the end of October, with no sign of improvement. In terms of news, according to documents disclosed by the Securities and Exchange Commission (SEC) on November 17, Circle (CRCL.US) director Date Rajeev V sold 291,000 shares of common stock at an average price of $84.23 per share on November 13th and 14th, with a total value of approximately $24.5095 million. Financial reports show that Circle's third-quarter revenue reached $740 million, an increase of 66% year-on-year, exceeding market expectations of $710 million. Earnings per share were $0.64, far exceeding the expected $0.20. The company's net profit for the third quarter was $214.4 million, compared to $71 million in the same period last year, a year-on-year increase of 202%, demonstrating strong profitability in its core business. The significant increase in the circulation of USDC has been a key factor driving Circle's revenue growth. The circulation of the company's stablecoin has more than doubled compared to the same period last year, indicating a continued demand for regulated stablecoins in the market.