Circle (CRCL) Stock Falls After Removal From Major Russell Growth Indexes

Circle (NYSE: CRCL) has been removed from several major Russell Growth Indexes as part of the annual Russell index reconstitution completed on June 26, a move that could prompt passive funds and institutional investors tracking these benchmarks to reduce their holdings and potentially weigh on the stock's trading liquidity.

The company was dropped from the Russell Midcap Growth Index, Russell 1000 Growth Index, and Russell 3000 Growth Index.

The index changes come as CRCL shares have already been under pressure, declining 32.8% over the past 30 days, with the weakness likely reflecting selling tied to the annual rebalancing.

Adding to the pressure, Circle shares fell another 16.55% over the past 24 hours to $62 after competitor Open Standard announced the launch of its Open USD alliance stablecoin.

Source: SIMPLY WALL ST