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Why Gemini Space Station Stock Soared Today

TheMotleyFool

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Why Gemini Space Station Stock Soared Today: https://g.foolcdn.com/editorial/images/870608/gettyimages-2148797906.jpg

Gemini Space Station (NASDAQ: GEMI) stock posted big gains in Friday's trading despite bearish momentum for the broader market. The cryptocurrency and prediction market company's share price ended the day up 6.1%, but it had been up as much as 32.3% earlier in the session.

Gemini posted mixed earnings results after the market closed yesterday, but the company announced a major new investment from the Winklevoss Capital Fund. While solid quarterly results and meme-stock momentum initially powered massive gains for the company's share price, bearish pressures for tech stock ate into the valuation gains.

Image source: Getty Images.

Source Fool.com

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