Circle Stock Is Down More Than 70% From Its All-Time High. Is It Time to Update the Investment Thesis for CRCL Stock?

Circle Internet Group (CRCL) has declined over 70% from its $299 all-time high to $85 following a Q2 2026 earnings miss on revenue. Despite near-term headwinds including competition from Open USD stablecoin and crypto market doldrums, the company shows strong growth potential through USDC transaction volume expansion, its Arc blockchain network, and new banking capabilities. The analyst argues the stock appears undervalued at current levels.