Galaxy Digital’s $200M Buyback: Is Novogratz Saving the Day or Just Buying Time?

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Key Highlights (Because Who Has Time for the Whole Story?)

  • Galaxy Digital’s $200 million share buyback sends stock soaring 19%-because nothing says “we’re confident” like buying back your own shares, right?
  • Stock’s been on a rollercoaster, down 11% in the past year, trading below key averages, and basically wearing a “bearish” t-shirt.
  • Meanwhile, they’re opening an office in Abu Dhabi because, you know, the Middle East is the new crypto hotspot-or is it just a fancy tax dodge?

In a move that screams “look how much cash we have!” Galaxy Digital’s board approved a buyback program, allowing them to repurchase Class A common stock over the next 12 months. CEO Mike Novogratz (aka Crypto’s Mr. Optimism) claims this reflects the company’s “strong financial position” and “confidence in long-term growth.” Sure, Mike, whatever you say.

The Buyback Plan: Because Who Doesn’t Love a Good Loophole?

The buyback will follow all the rules (phew!) but still gives Galaxy the flexibility to buy shares whenever and however they want. Open market transactions? Check. Privately negotiated deals? Check. Rule 10b5-1 plans? Double check. Basically, they’re playing the stock market like it’s a game of Monopoly.

“We’re entering 2026 from a position of strength,” Novogratz said, probably while flexing in front of a mirror. “Our balance sheet is strong, and we’re investing in growth. Also, we think our stock is undervalued, so let’s just buy it back because, why not?”

GLXY Stock: Up 19% But Still in the Dumps

The stock jumped to $20.12 after the announcement, but let’s not get too excited. It’s still trading 31.4% below its 20-day average and 36.4% below its 100-day average. Bearish? More like grizzly bear-ish. Over the past year, it’s lost 11% and is closer to its 50-week low than its high. Ouch.

After hitting an all-time high of $45 in October, the stock decided it was time to take a nosedive. Current price action? A continuous break of structure to the downside, dropping over 51% from a monthly high of $34. RSI at 31? Oversold. MACD below its signal line? Bearish. Basically, the stock is having a worse year than my dating life.

Galaxy Digital Price Chart

Abu Dhabi: Because Every Crypto Firm Needs a Desert Office

In December, Galaxy Digital opened a new office in Abu Dhabi’s ADGM, because apparently the Middle East is the place to be. Led by Managing Director Bouchra Darwazah, this move is supposed to help them reach investors across three continents. Or maybe it’s just a fancy way to say, “We’re expanding globally, guys, look at us!”

Broader Context: Buybacks, Bears, and Bullish CEOs

So, what’s the deal with buybacks? They reduce the number of shares in the market, making each share worth more-in theory. It also shows investors that the company has enough cash to invest in itself, which is always a good look. But let’s be real, it’s also a way to boost the stock price and make the CEO look like a hero. Novogratz, you sly dog.

For investors, this is either a sign of confidence or a desperate attempt to prop up a struggling stock. Either way, grab your popcorn-this is going to be entertaining.

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2026-02-06 22:04