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

We recently published 10 Big Names Investors Are Dumping. Gemini Space Station, Inc. (NASDAQ:GEMI) is one of the worst performers on Wednesday.

Shares of Gemini Space dropped below its initial public offering (IPO) price a few days after debuting on the stock market as investors appeared to have continued profit-taking while digesting recent financial performance.

During the session, Gemini Space Station, Inc. (NASDAQ:GEMI) closed down by 12.80 percent to $24.53 from the previous day’s close, and was lower by 12.39 percent than its IPO price of $28.

Since its market debut on Friday, the company has already lost 23 percent of its valuation.

Analysts pointed to concerns on its financial performance as having weighed down on investor sentiment, with Gemini Space Station, Inc. (NASDAQ:GEMI) posting a $283 million net loss in the first half of the year, after a $159 million loss in the entire year of 2024.

Despite raising fresh funds from the share sale, the net loss figures suggested that Gemini Space Station, Inc. (NASDAQ:GEMI) remained far from swinging to profitability.

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Disclosure: None. This article is originally published at Insider Monkey.