Why Gemini Space Station Stock Crashed Down to Earth Today

By Lee Samaha – Mar 18, 2026 at 3:21PM ESTKey PointsDeclining cryptocurrency prices are pressuring its earnings. The sell-off may turn out to be an overreaction, and investors are hoping for some more positive newsflow tomorrow. Shares in Gemini Space Station (GEMI 16.17%) declined by more than 14% as of 2:30 p.m today. The company is set to report its fourth quarter 2025 results tomorrow, and the last thing investors wanted to hear about is a heavyweight financial company downgrading the stock today, but that's exactly what happened. Citi downgrades Gemini Space Station A Citi analyst downgraded the stock to "sell" from "neutral" and reduced the price target to $5.50, a level still notably below the price at the time of writing. The analystcited concerns about profitability, particularly in the current environment. Image source: Getty Images. It's hard to disagree with the analyst, as despite a recent improvement, the prices of key cryptocurrencies like Bitcoin and Ethereum are still sharply lower this year. Lower prices tend to reduce trading volumes, which isn't good news for Gemini's transaction revenue. Moreover, lower prices also put pressure on Gemini's custodial fee revenue, as they drive down the value of the assets held in custody. That said, the company is doing pretty well in growing its credit card revenue, and investors are hoping for some positive numbers on it when the results are released tomorrow. ExpandNASDAQ: GEMIGemini Space StationToday's Change(-16.17%) $-1.15Current Price$5.96Key Data PointsMarket Cap$837MDay's Range$5.78 - $6.6552wk Range$5.57 - $45.89Volume3.8MAvg Vol1.6MGross Margin83.46% Where next for Gemini Space Station The company certainly faces challenges, but the sell-off following the downgrade may be an overreaction. Management has already given preliminary estimates for the results, so there shouldn't be too many surprises. A quarter or two of recovery in cryptocurrency prices, plus ongoing growth in credit card revenue, could support the stock in the future. Read NextFeb 20, 2026 •By Lee SamahaHere's Why Gemini Space Station Crashed Again This Week (Hint: It Wasn't Just About Bitcoin)Feb 6, 2026 •By Lee SamahaHere's Why Gemini Space Station Stock Crashed This WeekDec 20, 2025 •By Lee SamahaWhy Shares in Gemini Space Station Lost Oxygen This WeekNov 14, 2025 •By Eric VolkmanWhy Gemini Space Station Stock Fell by Almost 22% This WeekSep 12, 2025 •By Johnny RiceWhy Did Gemini Space Station (GEMI) Stock Jump Today?About the AuthorLee Samaha is a contributing Stock Market Analyst at The Motley Fool covering industrials, electricals, energy, materials, transportation, and infrastructure stocks. Prior to The Motley Fool, Lee was a Civil Engineer and Investment Manager. He holds a Bachelor of Civil and Structural Engineering from Southampton University and a Certificate in Investment Management from Chartered Institute for Securities & Investment. Lee first cut his investing teeth on The Motley Fool bulletin boards (commonly referred to as the “Fool Boards,”) and he’s infinitely grateful to all of the investors he learned from in this powerful investing community.TMFSaintGermainX@LeeSamahaStocks MentionedGemini Space StationNASDAQ: GEMI$5.96(-16.17%)-$1.15BitcoinCRYPTO: BTC$71,273.00(-4.65%)-$3,476.25EthereumCRYPTO: ETH$2,202.26(-5.88%)-$137.58*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.