Mizuho: Gemini's sharp stock price drop may have already reflected the impact of executive departures.

According to Odaily Planet Daily, investment bank Mizuho stated that although Gemini's stock price has been sluggish recently, the market may have already priced in the negative impact of the management changes. Analysts reiterated their "outperform" rating on Gemini and maintained their target price of $26. The current stock price is around $5.90, a 43% drop over the past 30 days. Mizuho pointed out that while the departures of the COO, CFO, and CLO are disappointing, the stock price has already fully reflected the impact. Regarding financials, Gemini's preliminary revenue range is $165 million to $175 million, slightly higher than expected; however, adjusted EBITDA losses widened to approximately $257 million to $267 million, weaker than previously predicted. Mizuho believes that Gemini's announced plan to lay off approximately 25% of its workforce and its strategy to exit the UK, EU, and Australian markets are expected to improve its cost structure and drive the company towards profitability in the medium to long term. Analysts' bullish scenario of $43 and bearish scenario of $8 are both higher than the current stock price.