Gemini Stock Soars 45% After IPO –

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Markets

What to know:

  • Gemini shares soared to $41 in early trades after last night’s IPO. Don’t miss out, it’s going up faster than your uncle’s blood pressure at Thanksgiving!
  • The company raised $425 million by selling 15.2 million shares at $28 each, giving it a cool valuation of about $3.3 billion. That’s more money than most of us will see in 3 lifetimes!
  • Gemini’s IPO is part of a growing list of crypto firms going public, including Bullish, Circle, eToro, and Figure Technologies. It’s like a crypto party, and everyone’s invited (except your grandma).

Shares of Gemini (GEMI) opened at $41 a share on the Nasdaq Global Select Market on Friday. That’s a 45% increase from the IPO price, which is great news unless you’re holding a bunch of worthless stocks from that “dogecoin to the moon” phase.

The crypto exchange, founded by the Winklevoss twins – yes, those twins – priced its IPO at $28 a share, putting the company’s worth at about $3.3 billion. For those keeping track, that’s a LOT of zeros.

But, plot twist! Gemini posted a net loss of $283 million in the first half of the year. Sounds like they’re following the traditional startup script of “We’re losing money, but look at how much we’re worth!” In 2024, they lost a modest $159 million, so, hey, improvement?

Despite the ever-growing mountain of red ink, Gemini priced its IPO above the hoped-for level and even scored a $50 million strategic investment from Nasdaq. Nasdaq is all like, “Sure, we’ll throw some money at you, but only if you make our crypto custody services for big institutions work out. Deal?”

In a twist of fate, Gemini’s IPO follows other crypto platforms, including Circle, Bullish, eToro, and Figure Technologies – all of whom made a big splash this year. This marks a “boom” in the capital market for crypto firms, thanks to the U.S. regulators deciding to play nice. Who knew the government could be this helpful? Just don’t expect them to buy you lunch.

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2025-09-12 21:47