Citigroup Downgrades Gemini Space Station (NASDAQ:GEMI) to Sell

Citigroup Downgrades Gemini Space Station (NASDAQ:GEMI) to Sell

Citigroup cut shares of Gemini Space Station from a "neutral" rating to a "sell" rating and set a $5.50 price objective on the stock. in a report on Wednesday.

Citi Downgrades Crypto Exchange Gemini After Cutting Bitcoin, Ethereum Price Targets

Gemini stock (GEMI) fell 16% on Wednesday following the downgrade and a broader market dip, after Citi cut its Bitcoin and Ethereum targets.

Gemini (GEMI) Stock Plummets as Citi Slashes Rating to Sell

Key Takeaways Citi downgraded Gemini Space Station (GEMI) from Neutral to Sell, slashing the price target from $13 to $5.50 Shares declined 5.1% during premarket hours to $6.75, bringing year-to-date losses to 28% The firm anticipates a $263 million adjusted EBITDA loss in 2025, pushing profitability expectations to 2029 App downloads plummeted to 41,000 in February from over 100,000 monthly in the previous nine months The company has eliminate…