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Weekly Roundup: Coinbase Rises, Circle Soars, Solar Stocks Fall | Stock Movers
Posted
June 20, 2025
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June 20, 2025
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6:06Now PlayingOn this episode of Stock Movers:
- Coinbase (COIN) rallied 27% this week, becoming the biggest weekly gainer in the S&P. Coinbase secured its Markets in Crypto Assets license from the Luxembourg Commission de Surveillance du Secteur Financier, enabling the company to offer a full suite of crypto products to all 27 EU member states. The company also introduced Coinbase payments for commerce platforms, the first full-stack stablecoin payment solution built for commerce platforms at scale.
- Circle (CRCL) shares jumped 20% on Friday after Seaport Global gave the stablecoin issuer its first buy rating in the wake of the US Senate’s move this week to pass legislation setting up regulatory rules for cryptocurrencies pegged to the dollar. The company behind USDC, the second-largest stablecoin by market share, has seen its shares rise more than 600% since they started trading earlier this month. Optimism around stablecoin regulations has driven the strength. Seaport analyst Jeff Cantwell sees the global stablecoin market having the potential to reach $2 trillion at some point, from about $260 billion now. That would translate into annual revenue growth of 25%-30% for Circle, he wrote in a note to clients Friday.
- Solar stocks like Enphase Energy (ENPH) and First Solar (FSLR) declined this week. Earlier in the week, Senate Republicans released a bill that would end tax credits for wind and solar earlier than for other sources, prompting downgrades for the sector at KeyBanc. The new version of the bill would end incentives for wind and solar in 2028, though tax breaks for other sources of power including nuclear, hydropower and geothermal would be allowed to remain until being phased out in 2036.
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Weekly Roundup: Coinbase Rises, Circle Soars, Solar Stocks Fall
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