TechFlame News: Mizuho Securities stated that despite the recent continuous downturn in Gemini's stock price, the market may have already priced in the negative impact of management changes in advance.

Analysts reaffirmed their "Outperform" rating on Gemini and maintained a target price of $26. The current stock price is approximately $5.90, having declined by 43% over the past 30 days. Mizuho noted that although the departures of the company's COO, CFO, and CLO are disappointing, the stock price has already fully reflected the related impact.

In terms of financial results, Gemini's preliminary revenue range is $165 million to $175 million, slightly above expectations; however, the adjusted EBITDA loss widened to approximately $257 million to $267 million, which is weaker than previously forecasted.

Mizuho believes that Gemini's announced plan to reduce its workforce by about 25% and its strategy to exit the UK, EU, and Australian markets are expected to improve the cost structure and drive the company toward profitability in the medium to long term. The analyst's bull case scenario of $43 and bear case scenario of $8 are both higher than the current stock price.