Jim Cramer says Circle Internet stock is 'too hot' to buy up here

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CNBC’s Jim Cramer on Monday examined Circle Internet

, a stablecoin issuer that made a splash during its market debut last week, saying he’d wait to buy the stock until it has retreated from recent highs.

“Circle Internet Group’s a solid company, but the stock, right now, has gotten too hot for me. I can’t recommend it up here,” he said. “Why don’t you let it cool off before you even think about pulling the trigger.”

Circle Internet founded USDC, a dollar-pegged stablecoin meant to act as fiat money on the internet. USDC