Following the release of its first post-IPO earnings report, Gemini’s stock saw a historic decline after trading revealed wider losses despite increased revenue. The exchange marked significant growth in revenue for the third quarter, hitting $50.6 million, which was over double from the previous year. However, this positive news came with a widened net loss of $159.5 million – largely attributed to increased expenses linked to becoming a public company, including substantial marketing costs leading up to the IPO. 🤯 This contributed to Gemini’s stock plummeting to an all-time low in after-hours trading and experiencing a 6.2% decrease from its initial offering price on September 12th.