Circle Internet Group stock is sliding despite strong revenue and higher average USDC in circulation

The stablecoin issuer has seen its share price swing wildly since its market debut in June. It just reported its second earnings as a public company. Circle Internet Group released its third-quarter earnings on Wednesday, November 12, announcing a 66% jump in revenue and reserve income year-over-year (YOY). The $740 million figure stemmed, in large part, from a 97% increase YOY of average USDC in circulation.