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Mike Novogratz buys $9.9 million in Galaxy shares following steep monthly slide

Galaxy Digital CEO Mike Novogratz purchased roughly $9.9 million in company shares following a steep stock decline over the past month, citing a disconnect between the market price and underlying value.

Black and white portrait photograph of Galaxy Digital CEO Mike Novogratz.
Image: @TheBlockCo

Galaxy Digital CEO Mike Novogratz bought approximately $9.9 million worth of company shares on Thursday, according to an SEC filing reported by The Block. The purchase followed a sharp monthly retreat for the stock, which fell 43.5% over the past month according to The Block and 41% according to Solid Intel.[2][3][1]

Novogratz noted that he sees a "massive disconnect" between the stock's market price and the company's underlying value, The Block reported. Crypto Briefing characterized the insider buy as a sign of confidence in Galaxy's long-term prospects. Following the disclosure, shares of Galaxy rose 7% in pre-market trading on Friday.[2][1]

Key facts

  • Galaxy Digital CEO Mike Novogratz purchased approximately $9.9 million worth of company stock on Thursday, according to an SEC filing.
  • The transaction followed a steep drop in the stock over the past month, reported as a 43.5% decline by The Block and a 41% slide by Solid Intel.
  • Novogratz said he sees a "massive disconnect" between the stock's price and the company's underlying value.
  • Galaxy shares gained 7% in pre-market trading on Friday.
  • Crypto Briefing reported that Novogratz's investment signals confidence in Galaxy's long-term potential.

Sources 路 3 sources

  1. CB

    Crypto BriefingArticle 路

    Galaxy CEO Mike Novogratz buys about $9.9M in shares after steep monthly slide Novogratz's investment signals confidence in Galaxy's long-term potential, potentially stabilizing investor sentiment amid market volatility. The post Galaxy CEO Mike Novogratz buys about $9.9M in shares after steep monthly slide appeared first on Crypto Briefing .

    Open source
  2. TB

    The Block@TheBlockCoPost on X 路

    THE BLOCK: Galaxy CEO Mike Novogratz bought approximately $9.9 million worth of company shares on Thursday, according to an SEC filing, following a 43.5% decline over the past month. Galaxy shares rose 7% in pre-market trading on Friday, with Novogratz saying he sees a "massive disconnect" between the stock's price and the company's underlying value. $GLXY

    Open source
  3. SI

    Solid Intel 馃摗@solidintel_xPost on X 路

    INTEL: Galaxy $GLXY CEO Novogratz buys $9.9 million of company stock after a 41% slide

    Open source