We examine the noncommutative cylinder solution to a matrix model with a Minkowski background metric. It can be regarded as the noncommutative analogue of a static circular string. Perturbations about the solution yield a tachyonic scalar field (and an additional tachyonic fermion in the full supersymmetric version of the model) in the commutative limit. The tachyonic mode is attributed to the fact that the circular string is unstable under uniform adiabatic deformations. We obtain a stabilizing term which, when added to the matrix model, removes the tachyonic mass.