Why Did Gemini Space Station (GEMI) Stock Soar Today? The 2025 Rally Explained

GEMI rockets past analyst expectations as space infrastructure plays heat up

Market Momentum: Institutional money floods into orbital assets

Behind the surge: Contract wins and regulatory tailwinds propel the space station operator beyond Earth's gravity—and straight through resistance levels

Wall Street's latest darling proves even traditional finance can't resist a good moonshot narrative

Gemini Space Station stock surges on IPO debut

Gemini raised $425 million in its IPO, initially pricing its stock at $28 per share. It opened trading, however, well above that price at $37.01 per share. The stock climbed as high as $45.89 during its first day -- a peak gain of 63.9% -- before falling back to $32 as the market closed.

Gemini is backed by the Winklevoss twins, who rose to fame after suing Mark Zuckerberg for allegedly stealing the idea of Facebook from them. The twins were earlyinvestors and have been advocating for increased regulation of crypto for years, in an effort to make it more attractive to traditional investors.

Image source: Getty Images.

The IPO follows yesterday's successful debut for the blockchain-based lending platform,The company initially priced its shares at $25, but the stock began trading at $36, and closed today at $32.50 per share.

Gemini is still operating in the red

There is clearly a lot of enthusiasm for crypto-related IPOs, but at its current price, I might hold off on Gemini. Its financials aren't in great shape, posting a net loss of $159 million in 2024, and losses actually accelerated in the first half of this year to $283 million. That trend is happening amid a booming crypto market.