Gemini Stock Soars 45% in NASDAQ Debut Amid Crypto IPO Wave
Gemini Space Station made a strong debut on NASDAQ yesterday, with shares jumping to $40.71 after pricing at $28 per share. The cryptocurrency exchange, founded by Cameron and Tyler Winklevoss, raised $425 million in what became one of the most watched crypto IPOs of 2025.
The stock opened higher than expected and maintained strong momentum throughout the trading day. Early estimates suggested the stock would open around $34, but actual trading exceeded those projections.
Record Demand Drives Pricing Higher
Investor demand for Gemini shares was exceptional. The IPO was oversubscribed 20 times, meaning investors wanted to buy 20 times more shares than were available.
This strong demand pushed the company to raise its IPO price multiple…
