Why Did Gemini Space Station (GEMI) Stock Jump Today?

Gemini Space Station (NASDAQ: GEMI) soared on Friday, finishing the day up 14.3%. The move comes as the S&P 500 (SNPINDEX: ^GSPC) was down slightly and the Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 0.4%.The cryptocurrency exchange operator's stock IPO'd this morning -- the latest IPO to see a massive first day.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.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool