Gemini Shares Drop Below IPO Price Of $28 After Another 12% Plunge
Shares in Gemini Space Station, the crypto firm led by Tyler and Cameron Winklevoss, slid below their IPO price of $28 to extend their losses less than a week after the company debuted on the Nasdaq. Trading under the ticker “GEMI,” Gemini’s share price dropped 12.80% in the latest trading session to close off the day at $24.53. There was, however, some buying activity in the after-hours trading session that has seen the shares rise over 3% during this period, data from Yahoo Finance shows . GEMI price chart (Source: Yahoo Finance) Despite the minor uptick in after-hours trading, GEMI is still down more than 33% over the past seven days. Gemini Market Cap Falls Below $3 Billion On the first day of its IPO, GEMI opened at $37.01 per share, and managed to reach a high of $45.89 before closing off its debut day at $32. This marked a 14% gain for the company’s stock on its first day of trading, with the company raising $425 million on the day as well. ...