Gemini Space (GEMI) Falls Below IPO as Financial Concerns Linger

Core Viewpoint - Gemini Space Station, Inc. (NASDAQ:GEMI) has experienced significant declines in its stock price shortly after its IPO, primarily due to ongoing financial concerns and profit-taking by investors [1][3]. Financial Performance - Shares of Gemini Space closed down by 12.80% to $24.53, which is 12.39% lower than its IPO price of $28 [2]. - Since its market debut, Gemini Space has lost 23% of its valuation, with a reported net loss of $283 million in the first half of the year, following a $159 million loss for the entire year of 2024 [3][4]. - Despite raising funds from the share sale, the company remains far from achieving profitability [4].