Circle Internet Group, Inc. (NYSE: CRCL) experienced a significant decline on Tuesday, December 23, 2025, and showed only modest trading activity in the after-hours session, leading to a sensitive trading environment on Wednesday as U.S. markets prepare for an early closure on Christmas Eve.
CRCL after-hours update: where Circle stock stands after the bell (Dec. 23, 2025)
Circle shares closed at $82.73, down $4.27 (-4.91%) during the regular session. In after-hours trading, the stock was around $82.57, reflecting a decline of approximately 0.20%. This drop occurred on a day when the overall market showed strength, with U.S. stocks rising and the S&P 500 achieving a record close amidst thin holiday trading conditions.
What happened during Tuesday’s session: range, volume, and context
Trading on December 23 showed volatility, with the stock fluctuating between an intraday low near $81 and highs in the mid-$85 range before closing lower. While trading volume was active, it was not extraordinary compared to recent trends. The holiday week typically presents thinner liquidity, which can exaggerate price movements and create the impression of headline-driven trades.
The biggest “today” headlines: insider-selling disclosures hit the tape
On December 23, a series of Form 4 insider transaction disclosures came to light, revealing trades executed the previous day, December 22.
- President Heath Tarbert: Disclosed a sale of 3,048 shares at a weighted average price of $90.02, made under a Rule 10b5-1 trading plan.
- Chief Product & Tech Officer Nikhil Chandhok: Reported the exercise of 10,000 shares at $25.81 and a sale of the same amount at $90.00, also under a 10b5-1 trading plan.
- CEO Jeremy Allaire: Reported a sale of 7,055 shares at a weighted average price of approximately $90.07.
These insider sales can impact stock sentiment, particularly when the market is volatile, and valuation remains debated.
Valuation debate is still front and center
Valuation continues to be a predominant topic for Circle. Some analysts have described the stock as overvalued, particularly as it enters 2026, referencing its rich multiples against forward earnings expectations. A recent downgrade to “Sell” by Compass Point also contributed to the selloff.
The bull case catalysts investors are still watching
Despite the drop, Circle is connected to significant trends like stablecoin adoption and financial infrastructure modernization. Recent developments include:
- USDC Growth: Circle reported that USDC’s market cap reached $77 billion as of December 23, a substantial increase from $44 billion at the start of the year.
- Intuit Partnership: Announced a partnership with Circle to integrate USDC capabilities across major products such as TurboTax, QuickBooks, and Credit Karma.
- OCC Conditional Approval: Circle received conditional approval from the OCC for establishing a national trust bank, an important step for a stablecoin issuer.
- Visa Stablecoin Settlement: Visa is expanding stablecoin settlement in the U.S., with Circle positioning USDC as key in institutional money movement.
Forecasts and expectations: what analysts and options imply right now
Market analysts present a wide range of price targets for Circle, indicating uncertainty concerning its growth and profitability. Expected moves in the options market reflect anticipation of significant price movements surrounding the upcoming expiration.
What to know before the market opens Wednesday, Dec. 24, 2025
Wednesday will not be a typical trading day, with U.S. equities closing early at 1:00 p.m. ET. This early closure may lead to wider price spreads and less market depth.
Liquidity risks are heightened, particularly for a volatile stock like Circle. Observers should also monitor premarket activity related to insider headlines, as this may affect how the stock behaves around recent lows.
Additionally, initial jobless claims data will be released before the market opens, which could impact market sentiment.
As the market approaches December 24, the overarching narrative involves whether recent price movements are merely reflective of liquidity and positioning factors or indicative of reevaluated valuation concerns.
This article is for informational purposes only and is not financial advice.
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