Crypto Exchange Gemini's Stock Trades Below IPO Price Despite Day’s Gains

Shares of Gemini (GEMI), the crypto exchange founded by billionaire twins Cameron and Tyler Winklevoss, were trading under their IPO price of $28 on Thursday, changing hands at about $25.15. That marked a 2.5% gain on the day after the stock recouped earlier losses. The shares first broke below the IPO price on Wednesday. Gemini went public last week at $28 a share, valuing the company at more than $3 billion. The stock opened above the IPO price, at $37.01, and closed 14% higher. The offering raised $4 ...