Galaxy Digital Stock Surges 18% on $200M Share Buyback Approval | GLXY News

Shares of Galaxy Digital Holdings Ltd. (TSX: GLXY) experienced a significant rally, climbing 18% following the company's board approval of a substantial share repurchase program. The crypto-focused financial services firm announced a new initiative to buy back up to $200 million of its own common shares. This strategic move is seen as a strong signal of management's confidence in the company's underlying value and future prospects within the digital asset ecosystem. Market analysts often interpret such buybacks as a bullish indicator, suggesting that the company believes its stock is undervalued. The announcement has generated positive sentiment among investors, reflecting optimism towards Galaxy Digital's position in the cryptocurrency and blockchain sector.