Circle's stock price plunged nearly 10%, dragged down by analyst downgrades and an investigation into Drift Protocol.

CoinFeed reported on April 10th that, according to Cointelegraph, stablecoin issuer Circle's stock price fell 9.9% on Thursday, closing at $85.10, after Compass Point downgraded its rating from neutral to sell and lowered its price target to $77. The stock has fallen nearly 24% in the past month and approximately 43% in the past six months. Bernstein analysts believe market concerns are exaggerated, as Circle's core business remains unaffected, and USDC usage and reserve revenue remain strong. Furthermore, legal scrutiny following the Drift Protocol security vulnerability incident has also put pressure on crypto market sentiment. Affected investors are encouraged to contact the law firm Gibbs Mura for potential recourse.