Emergency medical services provider GMR, backed by KKR, opened on the NYSE with a sharp drop. Shares fell about 10%, dragging its market capitalization to roughly $3.01 billion. The slump followed a strategic reduction in IPO pricing, underscoring the market’s cautious reaction to the company’s public debut.
Circle, the issuer of the USDC stablecoin, made a blockbuster debut on the NYSE. Its shares jumped to above $96 at one point before closing at $83.23, signaling strong investor appetite. The move comes as stablecoin competition intensifies and US regulators push for clearer rules. Circle also cites massive transaction scale, with $25 trillion in volume.
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