The Gemini Space Station (GEMI), the exchange of cryptography founded by Cameron and Tyler Winklevos, has seen that their actions fall by more than 20% since it will be listed in NASDAQ last Friday.
The action has dropped around 6% on Tuesday, quoting to $ 30.42, and has decreased almost 24% during the past week. The strong decrease follows an initial increase after the company raised $ 425 million in its OPI, staring at $ 28 shares and valuing the company at $ 3.3 billion before the negotiation began.
On his first day, Gemi shot at $ 45.89 before closing at $ 32, a 14% premium at the offer price. But since that stop, the shares have collapsed more than 34%, erasing most of the early enthusiasm of public market investors.
The widest market for cryptocurrency equity has remained more stable. Coinbase (Coin), the greatest Cryptography exchange of the USA, is flat during the past week. Robinhood (Hood), which obtains part of his Crypto income, has dropped 3%. Token emiseer Circle (CRCL), on the other hand, increases by 13% during the same period.
Part of the pressure on Gemini’s actions can come from their finances. The company registered a net loss of $ 283 million in the first half of 2025, after a loss of $ 159 million in all 2024. Despite raising new capital, the numbers suggest that the business is still far from obtaining profits.
Compass Point analyst Ed Engel, said Gemi is currently quoted at 26 times his annual income of the first half. That multiple, often used to measure if an action is expensive, means that investors pay $ 26 for every dollar that is expected to generate sales this year. For a company that creates losses in a volatile sector, that is a high price and could be feeding the skepticism of investors.
