Gemini (GEMI) cryptocurrency exchange shares, established by billionaire twins Cameron and Tyler Winklevoss, traded below their $28 IPO price on Thursday at approximately $25.15 per share.
The stock showed a 2.5% daily gain after recovering from earlier losses, having initially fallen below the IPO price on Wednesday.
Following last week's public debut at $28 per share, which valued the company at over $3 billion, Gemini stock opened at $37.01 and closed 14% higher on its first trading day.
The initial public offering generated $425 million through the sale of 15.2 million shares.
New York-based Gemini provides comprehensive cryptocurrency services including spot exchange trading, institutional custody solutions, a USD-backed stablecoin, crypto rewards credit card, and staking products.
As of July's end, the platform managed over $21 billion in digital assets.