An IPO (Initial Public Offering) is one of the biggest tests a company can undergo. Simply put, it exposes itself to public opinion and investor assessment regarding the company's attractiveness.
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Investors continuously determine a company's value by buying or selling its shares, and this will no doubt be the case with Gemini – the crypto exchange run by the Winklevoss brothers, yes, the ones behind Facebook.
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The Gemini IPO took place last Friday, and since then, Gemini stock CFD has been available as a tradeable instrument on SimpleFX.
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The launch wasn't without some surprises, though. The final offering price was $28—slightly higher than the projected range of $24 to $26 per each—but shares sold slightly less than expected (15.2M vs. 16.7M). This allowed for a total of $426M to be raised.
Read more on our dedicated page.
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Gemini shares jumped 32.2% in their Nasdaq debut on Friday.
As is often the case, however, volatility pushed the stock to $32 at closing, which still represented a 14% increase over the offer price. Meanwhile, after the weekend, Gemini opens with a gap up by 5%, rising from the offer price by 21%.
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Will the price gap be closed, or are we heading north?
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Trade smarter with our app!
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78% of retail investor accounts experience cash losses as a result of trading CFDs with this CFD provider. Consider whether you understand how CFDs work and whether you can afford the high risk of losing money.
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SimpleFX operates through the following companies:
8tech Ltd authorised and supervised by the Financial Services Commission in Mauritius licence number GB23201604,
8TECH ZA (Pty) Ltd a Crypto Assets Service Provider and FSP with License No 53073 Authorized by the Financial Sector Conduct Authority (FSCA) in South Africa,
8Tech SVG Ltd registered in Saint Vincent & Grenadines with registration number 22361 BC 2014
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