Stock Track | Galaxy Digital Holdings Plummets 5.10% in Pre-Market After Analyst Target Price Cuts and Weak Q4 Results

Stock Track

Feb 04

Galaxy Digital Holdings Ltd. (GLXY) saw its shares plummet 5.10% during pre-market trading on Wednesday, reflecting significant negative sentiment toward the cryptocurrency-focused financial services firm.

The sharp decline follows target price reductions from two major investment banks. Rosenblatt Securities lowered its target price for Galaxy Digital to $39 from $46, while Morgan Stanley cut its target to $36 from $43. These analyst actions came after the company reported disappointing fourth-quarter results, with a loss per share of $1.08 that was significantly wider than the anticipated loss of 52 cents per share.

Further contributing to the negative outlook was a reported 40% quarter-over-quarter decline in digital asset trading volumes, indicating weakening trading activity for the company. While CEO Mike Novogratz downplayed long-term concerns about quantum computing's impact on Bitcoin, the broader market concerns and poor financial performance appear to have driven the sell-off.

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(GLXY) saw its shares plummet 5.10% during pre-market trading on Wednesday, reflecting significant negative sentiment toward the cryptocurrency-focused financial services firm.</p><p>The sharp decline follows target price reductions from two major investment banks. Rosenblatt Securities lowered its target price for Galaxy Digital to $39 from $46, while Morgan Stanley cut its target to $36 from $43. These analyst actions came after the company reported disappointing fourth-quarter results, with a loss per share of $1.08 that was significantly wider than the anticipated loss of 52 cents per share.</p><p>Further contributing to the negative outlook was a reported 40% quarter-over-quarter decline in digital asset trading volumes, indicating weakening trading activity for the company. 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(GLXY) saw its shares plummet 5.10% during pre-market trading on Wednesday, reflecting significant negative sentiment toward the cryptocurrency-focused financial services firm.</p><p>The sharp decline follows target price reductions from two major investment banks. Rosenblatt Securities lowered its target price for Galaxy Digital to $39 from $46, while Morgan Stanley cut its target to $36 from $43. These analyst actions came after the company reported disappointing fourth-quarter results, with a loss per share of $1.08 that was significantly wider than the anticipated loss of 52 cents per share.</p><p>Further contributing to the negative outlook was a reported 40% quarter-over-quarter decline in digital asset trading volumes, indicating weakening trading activity for the company. While CEO Mike Novogratz downplayed long-term concerns about quantum computing's impact on Bitcoin, the broader market concerns and poor financial performance appear to have driven the sell-off.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GLXY","symbol_name":"Galaxy Digital Holdings Ltd.","start_time":0,"source_url":"","article_id":"1174439890","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1174439890","pubTimestamp":1770217154,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Galaxy Digital Holdings Ltd. 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