Stock Track | Galaxy Digital Soars 17.10% Intraday on $200 Million Share Repurchase Announcement

Stock Track

Feb 06

Galaxy Digital Holdings Ltd. (GLXY) experienced a significant intraday surge, with its stock price soaring 17.10% during Friday's trading session.

The sharp price movement follows the company's announcement that its board of directors has authorized a share repurchase program of up to $200 million. The program, effective for 12 months, allows for purchases through open market or private transactions, signaling management's confidence in the company's long-term value and prospects.

CEO Mike Novogratz stated that the authorization was enabled by Galaxy Digital's strong balance sheet and business position, giving the company flexibility to return capital to shareholders when it believes the stock does not reflect the underlying business value.

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(GLXY) experienced a significant intraday surge, with its stock price soaring 17.10% during Friday's trading session.</p><p>The sharp price movement follows the company's announcement that its board of directors has authorized a share repurchase program of up to $200 million. 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