Galaxy Digital Initiates $200 Million Share Repurchase Program
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 20 2023
0mins
Should l Buy GLXY?
Source: Newsfilter
Galaxy Digital's stock surged 6.48% as it crossed above the 5-day SMA, reflecting positive investor sentiment.
The company's Board of Directors has approved a share repurchase program of up to $200 million, demonstrating its commitment to enhancing shareholder value and confidence in its long-term prospects. This program allows for flexible repurchases through various methods, ensuring responsiveness to market conditions. The implementation is expected to occur gradually over the next 12 months, potentially increasing shareholder returns and attracting more investor attention to Galaxy's innovative capabilities in finance and artificial intelligence.
This strategic move is anticipated to bolster market confidence in Galaxy Digital, especially as it continues to navigate the evolving landscape of digital assets and data center infrastructure.
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Analyst Views on GLXY
Wall Street analysts forecast GLXY stock price to rise
12 Analyst Rating
11 Buy
1 Hold
0 Sell
Strong Buy
Current: 21.630
Low
24.00
Averages
43.89
High
60.00
Current: 21.630
Low
24.00
Averages
43.89
High
60.00
About GLXY
Galaxy Digital Inc. is engaged in the business of digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence (AI). The Company's digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, it develops and operates data center infrastructure to power AI and high-performance computing workloads. The Company's segments include Digital Assets, Data Centers, and Treasury and Corporate. Its Digital Assets operating business segment provides new products and capabilities such as staking, margin-based financing and active exchange-traded funds. The Data Centers segment comprises the Helios infrastructure assets. Its Data Centers segment develops and operates High Performance Computing (HPC) infrastructure to meet the growing demand for large-scale, power-ready facilities in the AI/HPC industry.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Potential Catalysts: He mentioned that Kevin Warsh, President Trump's nominee for the next Federal Reserve Chair, could serve as a near-term catalyst for Bitcoin, as Warsh's dovish stance may lead to rate cuts, further enhancing Bitcoin's investment appeal.
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