Galaxy Digital’s Nasdaq Bet: Why Wall Street’s Buzzing About Crypto’s Next Big Star!
Galaxy Digital’s buy rating upgrade fuels hype for its May 16 Nasdaq debut! Is this crypto’s big break? Dive in now!
On May 14, 2025, Galaxy Digital, the crypto and AI infrastructure firm led by billionaire Mike Novogratz, scored an upgraded buy rating from H.C. Wainwright, sending ripples through the crypto world. Trading at $32.09 on the Toronto Stock Exchange, Galaxy is set to debut on Nasdaq under the ticker GLXY on May 16, a move CEO Novogratz calls a “transformative milestone.” Despite a $295 million Q1 loss tied to digital asset depreciation and a $57 million mining exit charge, analysts see strong growth potential as crypto markets rebound—Bitcoin’s at $105,000, and Ethereum’s up 95% this month.
Why the excitement? Galaxy’s pivot to the US, finalized on May 13, positions it to attract institutional investors hungry for crypto and AI exposure. Its $1.1 billion cash reserve and a CoreWeave AI deal projecting $700 million by 2027 signal resilience. Posts on X buzz with optimism, though some warn of volatility if macro conditions sour.
The Nasdaq listing could boost Galaxy’s visibility, potentially lifting its stock and crypto markets broadly. But risks remain—Q1 losses highlight crypto’s unpredictability, and regulatory shifts could loom. For beginners, this shows crypto’s growing mainstream appeal but demands caution.
Will Galaxy shine on Nasdaq? Share your thoughts below! Follow trafy.io for more crypto scoops.
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The information provided on trafy.io does not constitute investment advice or recommendations. All investment and trading activities involve risks, and readers are advised to conduct their own research before making decisions.
NOTICE:
The information provided on trafy.io does not constitute investment advice or recommendations. All investment and trading activities involve risks, and readers are advised to conduct their own research before making decisions.
