BUZZ-Crypto platform Gemini falls as Mizuho flags weaker exchange activity

Reuters03-23

** Shares of crypto platform Gemini Space Station GEMI.O, founded by billionaire twins Tyler and Cameron Winklevoss, down 3.18% to $5.78

** Mizuho cuts PT on GEMI to $12 from $26, citing softer outlook for trading activity, which offsets continued strength in Gemini's card and services businesses

** "While card momentum remains a bright spot, near-term revenue growth could be constrained by a softer outlook for asset prices and lower transaction volumes across the core exchange," brokerage says

** Separately, GEMI on last Thursday was sued by shareholders who said they were defrauded about the cryptocurrency exchange's business prospects

** Three of 10 analysts rate stock "buy", six "hold" and one "strong sell"; their median PT is $9 - data compiled by LSEG

** Including session's move, GEMI down 42% YTD

(Reporting by Pragyan Kalita in Bengaluru)

((Pragyan.Kalita@thomsonreuters.com;))

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