Gemini Space Station (NASDAQ: GEMI) is a cryptocurrency exchange, not a space exploration company. Despite this, the company’s stock plummeted by nearly 22% this week due to a recent slide in the crypto market and a negative earnings report. Concerns about a Federal Reserve rate cut have also impacted crypto prices, leading to a broad sell-off in coins and tokens. Gemini’s third-quarter revenue doubled to $50.6 million, but its net loss under GAAP ballooned to over $159 million. With stiff competition from established exchanges like Coinbase Global, Gemini’s future success remains uncertain.

Read more at Nasdaq: Why Gemini Space Station Stock Fell by Almost 22% This Week