SEC Dismisses Lawsuit Against Gemini Trust Company
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4d ago
0mins
Source: stocktwits
- Lawsuit Dismissal: The SEC formally dismissed its lawsuit against Gemini Trust Company on Friday, removing a long-standing legal overhang tied to the Gemini Earn program, although this legal victory did not boost GEMI's stock price.
- Muted Stock Reaction: Despite the resolution of legal issues, GEMI closed at $9.72 on Friday, down 3.48%, and has fallen over 7% in the past five trading days, indicating that investors remain cautious about broader regulatory risks.
- Full Asset Recovery: The dismissal followed the full recovery of digital assets owed to Gemini Earn customers through the Genesis bankruptcy process, highlighting significant progress in customer recoveries.
- Ongoing Regulatory Risks: The SEC noted that the dismissal does not reflect its stance on other crypto-related cases, underscoring that enforcement activity in the sector remains active, which investors need to monitor closely.
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Analyst Views on GEMI
Wall Street analysts forecast GEMI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GEMI is 18.78 USD with a low forecast of 11.00 USD and a high forecast of 26.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
9 Analyst Rating
6 Buy
3 Hold
0 Sell
Moderate Buy
Current: 8.265
Low
11.00
Averages
18.78
High
26.00
Current: 8.265
Low
11.00
Averages
18.78
High
26.00
About GEMI
Gemini Space Station, Inc. is a holding company. The Company, through its subsidiary, Gemini Space Station, LLC, offers a mobile and Web-based crypto asset exchange platform, proprietary wallet infrastructure and custody solutions, high-performance over-the-counter trading solutions tailored to institutions and professionals, a digital art auction platform, a proprietary United States dollar backed stablecoin, and a credit card product that offers crypto asset rewards on customer purchases. The Company operates globally and provides security solutions across all of its product offerings. Its platform simplifies and secures the process of buying, selling, storing, staking, and collecting digital assets. It provides accessible and straightforward educational resources to help its users understand the intricacies of crypto assets. Its Gemini Credit Card, an innovative credit card made available by Gemini, allows users to earn and grow crypto rewards every time they swipe.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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