JPMorgan Chase Predicts Massive Correction for Circle (CRCL) – Here’s the Bank’s Price Target: Report

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JPMorgan analyst Kenneth Worthington reportedly expects the stock of the New York Stock Exchange-listed stablecoin issuer Circle (CRCL) to fall by double-digit percentage points after a nearly 6x rise in less than a month. According to Bloomberg, Worthington has set a price target of $80 for Circle, about 56% below the current price. The JPMorgan analyst reportedly says the biggest threat that Circle, which went public on June 5th, faces is competition as more firms prepare to issue stablecoins....