Galaxy Digital Shares Surge Nearly 16% After Company Announces $200 Million Share Buyback Program
Galaxy Digital Inc. (NASDAQ:GLXY) shares are up on Friday following the announcement of a $200 million share repurchase program.
The stock’s rise comes as the broader market is experiencing gains, with major indices like the Dow Jones up 1.64% and the S&P 500 rising 0.98%.
Galaxy Digital Announces $200 Million Buyback
The Galaxy Digital board of directors approved a share repurchase program, allowing the company to buy back up to $200 million of its Class A common stock. This decision reflects the company’s strong balance sheet and confidence in its long-term prospects, said CEO Mike Novogratz.
Additionally, the repurchase program will be conducted in compliance with applicable securities laws and stock exchange requirements, allowing for flexibility in the timing and amount of shares repurchased.
The program is set to last for …
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