In general, it is best to fix in place (solder) loose parts before
shaping. IOW solder the ends together first. There are always
exceptions, though. Also, it is usually easier to solder flat
things, than pieces with dimension, ie. the shaped bracelet.
To better answer your question, tell us: Is this a bangle or cuff?
What metal? How is the stone to be secured?
I’ve made many cuff bracelets and find that evenly heating the metal
(silver and copper) to allow solder flow can be a stumbling block.
Judy in Kansas, where yesterday 3 inches of snow accumulated, then
melted. Not climate change, but weather wierding.