Key highlights:
- Circle stock dropped 17% after losing its place in five major Russell Growth Indexes
- Index-tracking funds may also be forced to sell CRCL shares
- A new stablecoin project backed by 140 companies has also added to the pressure
The index removal may continue to create short-term selling pressure as funds rebalance their portfolios. The competition from the new stablecoin project, on the other hand, has already built up a cautious view from investors regarding future market share growth.
Source:: Circle Stock Price Tumbles 17% After Losing Spot in Major Russell Growth Indexes