The repurchase plan follows a volatile earnings week and signals confidence in the firm’s balance sheet.
Galaxy Digital shares jump 18% after company approves $200 million buyback
The repurchase plan follows a volatile earnings week and signals confidence in the firm’s balance sheet.
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The summer months, between June and September, have historically brought significantly lower investor returns than other months of the year, says André Dragosch, head of research at ETC Group.
The company plans to issue up to 160 million shares, with Chardan Capital Markets as the financial advisor.
The move broke through multiple short-term resistance levels and coincided with high-volume buying activity, particularly on Korean exchanges.