Galaxy Digital Holdings Ltd. (GLXY) experienced a significant pre-market surge of 5.58% on Friday, indicating strong investor interest ahead of the regular trading session.
The price movement appears to be directly linked to news that Director Douglas R. Deason has reported the acquisition of Class A common shares of Galaxy Digital Inc. This transaction was filed with regulatory authorities and made public the day before the market movement.
Insider share purchases are often interpreted by the market as a positive signal, suggesting that company executives have confidence in the firm's future prospects and valuation. Such actions can trigger increased buying interest from other investors, leading to price appreciation.