Galaxy Digital (BRPHF) Stock Drops 6% on $482 Million Q4 Loss Report

Shares of Galaxy Digital Holdings Ltd. (BRPHF) experienced a sharp decline of over 6% in pre-market trading following the company's disclosure of a significant fourth-quarter net loss. The crypto-focused financial services firm reported a net loss of $482 million for Q4 2023. This substantial loss contrasts with a profit of $302 million recorded in the same quarter the previous year. Market analysts attribute the downturn in pre-market activity directly to the earnings report, highlighting investor concerns over the company's quarterly performance amidst broader market conditions. The results underscore the ongoing volatility and challenges within the cryptocurrency and digital asset sector, impacting publicly traded companies like Galaxy Digital.