Recent IPO, Circle Internet Group (CRCL) jumps over 40% after rising over 50% yesterday. The stablecoin provider, Circle issues a stablecoin, USDC that is traded in 1 to 1 oratio for the US dollar. In a regulatory filing, USDC has been used for more than “$25 trillion in on chain transactions” since its launch in 2018. Circle’s revenue has risen from jjust $15 million in 2020 to $1.7 billion in 2024. Stablecoin issuers make profits by collecting the interest on the assets they hold in reserve to back their stablecoins. Circle said USDC is backed by “cash, short-dated US Treasuries and overnight US Treasury repurchase agreements with leading global banks.”

Lululemon (LULU) down 20% following earnings. The athletic apparel retailer is the worst performer in the S&P 500 as guidance missed expectations as sales slow in the US. Lululemon is looking to expand sales overseas and raise prices to generate a turnaround.

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it’s usage.