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Markets · Investing · Business
Finance
Why Gemini Space Station Stock Plummeted to Earth Today
The crypto exchange operator was affected by relatively weak trading in such assets.
Investors were generally unwilling to explore the stars with Gemini Space Station(NASDAQ: GEMI) stock. The crypto trading platform operator reported second-quarter results that came in well short of analyst estimates. That sell-off reduced Gemini's share price by almost 9%.
Gemini's total revenue for the period was $45.5 million, representing a sturdy 37% year-over-year improvement. Although the company suffered from a general weakness in crypto trading -- its exchange revenue slumped by 38% to $12.5 million -- this was mitigated by its services. These contributed $23.5 million to the top line, and were 149% higher.
Capital Daily covers markets, crypto and commodities for Asia & the Middle East — tier-1 desk research, AI-driven analysis, institutional-grade data. Tip our newsroom: [email protected]
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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