Why Circle Internet Stock Plummeted This Week

Shares of Circle Internet Group (CRCL -15.37%) fell this week, down 24.9% as of market close on Friday. The slide comes as the S&P 500 (^GSPC 0.52%) and Nasdaq-100 were up 3.4% and 4.2%, respectively.The company, which went public earlier this month, is the sole issuer of USDC, one of the most popular stablecoins on the market. After an incredible post-IPO run, the company's stock retreated this week as investors grew wary of its valuation.A week of mostly positive news wasn't enoughLast week, the Senate's ...