Citi downgrades Gemini to 'Sell', stock plummets

Citigroup has downgraded its investment rating for cryptocurrency exchange Gemini, causing its stock to plummet, Decrypt reported. Citi analysts lowered their rating on Gemini from "Neutral" to "Sell" and cut the price target from $13 to $5.50. Following the announcement, Gemini's stock (GEMI) fell by approximately 16% and is currently trading at around $5.99.