Gemini remains ‘hidden gem’ despite shares falling 57% since debut: Mizuho

Mizuho analysts have reiterated their 'outperform' rating and $30 price target for the Winklevoss twins-led crypto exchange Gemini, labeling it a "hidden gem" even though its shares have fallen approximately 57% since its September initial public offering. This positive outlook comes despite the stock's decline, as Gemini reported a 52% revenue jump in its first post-IPO quarterly results. Mizuho cites two major growth drivers: prediction markets and SMB cards. Gemini is pursuing regulatory approval for a derivatives exchange to host prediction contracts and is expanding its successful card program for small and medium-sized businesses. Analysts highlighted Gemini's competitive advantages, including its all-in-one app suite, security, regulatory compliance, and user growth, while noting that crypto volatility and regulatory changes pose the main risks.

(Source：The Block)