Ex-Goldman Executive On Circle’s 168% IPO Spike: Don’t Rush To Buy Stock As Bankers Engineer A ‘Pop’ — Cites Facebook Example
Former Goldman Sachs executive and Web3 entrepreneur Dom Kwok advised against investing in Circle Internet Group (NYSE:CRL) following its bumper listing, suggesting investors wait for the lockup period to end.
What Happened: In an X post dated Friday, Kwok, co-founder of EasyA, share his investment advice regarding the recent initial public offering of the stablecoin issuing company. He cautioned investors against buying into the hype created by the engineered “pop” on IPO day.
“As we just saw with Circle’s 168% pop, this sharp price increase creates huge excitement and bullish sentiment around the company. All eyes focus on the stock, drawing more investors in and driving price higher. but don’t fall for it,” Kwok said.