Gemini Space Station Stock Drops Below IPO Price

Gemini Space Station Inc.'s shares have fallen below their initial public offering (IPO) price of $28 shortly after their public debut, according to Bloomberg.com. The cryptocurrency exchange and custodian, co-founded by the Winklevosses, experienced a decline of as much as 10% on Wednesday, with its stock price reaching $25.31. After commencing trading on September 12 and an initial rally, the company's stock has since trended downward. This slump in Gemini's stock performance appears to mirror broader trends within the cryptocurrency sector, as it has tracked some related stocks lower. Despite the recent decline, Gemini Space Station Inc. currently holds a market value of approximately $3 billion. The fall below its IPO price signifies a notable shift following what was an initially promising public market entry.