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Galaxy Digital Plunges 11.18% Amid Public Offering
Generated by AI AgentAinvest Pre-Market Radar
Wednesday, May 28, 2025 6:02 am ET1min read
On May 28, 2025, Galaxy Digital's stock experienced a significant drop of 11.18% in pre-market trading, reflecting a notable decline in investor sentiment.
Galaxy Digital recently announced its first underwritten public offering of 29 million shares of Class A common stock on the Nasdaq Global Select Market. This move is part of the company's strategy to raise capital and expand its market presence. The underwriters for the offering also have a 30-day option to purchase up to an additional 4.35 million shares from secondary sources, further indicating the company's aggressive approach to capital raising.
Additionally, Galaxy Digital's inclusion in the NASDAQ Composite Index highlights its growing significance in the financial sector. This inclusion is expected to attract more investors and enhance the company's visibility in the market.
Mike Novogratz, the CEO of
, recently criticized the SEC under the Biden administration, describing it as 'un-American.' This statement has sparked discussions about regulatory challenges faced by the company and the broader cryptocurrency industry.
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