Galaxy Digital Surges 18% After Board Approves $200M Buyback Program
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Galaxy Digital Surges 18% After Board Approves $200M Buyback Program



Galaxy Digital stock surged Friday after the firm greenlit a $200 million buyback program, a move investors took as a vote of confidence in the crypto merchant bank’s balance sheet and outlook.

Shares of Galaxy Digital (GLXY) jumped about 18% to $19.90 after the company said its board authorized repurchases of up to $200 million of Class A common stock over the next 12 months. The company said buybacks could be executed via the open market, privately negotiated transactions or other mechanisms — including Rule 10b5‑1 trading plans — and that the program can be paused or stopped depending on market conditions.

Management framed the program as a signal that Galaxy shares are undervalued and that the firm has excess capital to deploy. Share repurchases can tighten share count, lift earnings per share and demonstrate balance‑sheet strength — factors that often support stock prices in volatile markets. “We are entering 2026 from a position of strength, with a strong balance sheet and continued investment in Galaxy’s growth,” CEO Mike Novogratz said. “That foundation gives us the flexibility to return capital to shareholders when we believe our stock doesn’t reflect the value of the business.”

The rally also looked like investor relief after Galaxy’s Q4 report earlier this week initially pressured the stock. The company posted a net loss of $482 million for the quarter, but highlighted a full‑year adjusted gross profit of $426 million and ended the year with $2.6 billion in cash and stablecoins — underscoring liquidity even amid the quarterly loss.

The broader crypto complex was positive on the day: bitcoin hovered back toward $70,000 from a reported $68,811.85, ethereum reclaimed levels above $2,000 from $2,048.66, and Coinbase (COIN) climbed more than 10% to roughly $163. Traditional markets were also upbeat, with the Dow Jones Industrial Average reportedly breaking 50,000 for the first time.

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