Gemini Space Station Posts 46-Cent Q3 Loss Per Share
GEMI sits 17% above its 52-week low of $2.31.
Summary
Gemini reported a third-quarter loss of 46 cents per share, its first quarterly print since the Q2 report on August 13 that showed revenue growth in services and OTC trading but a sharp decline in core trading volume and assets. Third-quarter revenue was $40.9M, down 19% as trading dropped. The loss lands against a small-cap profile and a stock trading near $2.71, so the per-share deficit is large relative to the share price. The Q2 baseline already flagged rising fraud-related losses and ongoing legal matters, and this Q3 loss suggests those pressures have not eased. The company also has a $100M shelf and a 7.14M-share Winklevoss Capital resale registration outstanding from October, which keeps dilution and supply overhang in view.
At the time of this announcement, GEMI was trading at $2.71 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $343.3M. The 52-week trading range was $2.31 to $15.27. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.