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Wire

Update: Galaxy Digital Shares Fall After Q2 Swings to Adjusted Loss, Revenue Misses Consensus

(Updates with recent stock move in headline and the first paragraph.)Galaxy Digital (GLXY) shares were down more than 13% in Wednesday afternoon trading after the company reported a Q2 adjusted loss and posted lower-than-expected revenue for the quarter.The company reported a Q2 adjusted loss Wednesday of $0.09 per diluted share, swinging from adjusted income of $0.08 a year earlier.Analysts polled by FactSet expected a loss of $0.41.Revenue for the quarter ended June 30 was $8.56 billion, down from $8.66 billion a year earlier.Analysts polled by FactSet expected $8.92 billion.Price: $19.18, Change: $-2.97, Percent Change: -13.39%

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Wire

Galaxy Digital Invests in Tokenet Developer Digital Prime Technologies

Galaxy Digital (GLXY) said Tuesday it invested in Digital Prime Technologies, strengthening its focus on institutional digital asset lending.The company previously participated in the launch of Tokenet, a platform developed by Digital Prime Technologies in partnership with EquiLend and launched in May.Digital Prime said it will use the proceeds to accelerate development of the platform and expand its institutional client base.Galaxy Digital shares were down over 6% in recent trading activity.Price: $31.07, Change: $-2.06, Percent Change: -6.20%

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Insider Trading

Update: Galaxy Digital Insider Sold Shares Worth $7,193,268, According to a Recent SEC Filing

(Updated to reflect that the transaction was not a discretionary sale but stock options vested and exercisable only until May 27.)Michael D Daffey, Director, on May 21, 2026, sold 250,000 shares in Galaxy Digital (GLXY) for $7,193,268. Following the Form 4 filing with the SEC, Daffey has control over a total of 1,505,419 Class A common shares of the company, with 1,505,419 shares held directly. The transaction represents shares of Class A common stock that were issued upon exercise of stock options that were set to expire on May 27.SEC Filing:https://www.sec.gov/Archives/edgar/data/1859392/000162828026037457/xslF345X05/wk-form4_1779401634.xmlPrice: $28.97, Change: $-0.60, Percent Change: -2.03%

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Insider Trading

Galaxy Digital Insider Sold Shares Worth $7,193,268, According to a Recent SEC Filing

Michael D Daffey, Director, on May 21, 2026, sold 250,000 shares in Galaxy Digital (GLXY) for $7,193,268. Following the Form 4 filing with the SEC, Daffey has control over a total of 1,505,419 Class A common shares of the company, with 1,505,419 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1859392/000162828026037457/xslF345X05/wk-form4_1779401634.xml

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Wire

Galaxy Digital Undervalued With Tenant, Regulatory Catalysts Ahead, Morgan Stanley Says

Galaxy Digital's (GLXY) power assets remain undervalued, with near-term catalysts including a tenant announcement and potential regulatory developments, Morgan Stanley said in a note Wednesday.The firm said the company delivered the first phase 1 data hall to CoreWeave on time and on budget, and confirmed the end tenant is a "multi-trillion-dollar, investment-grade public company."The firm added that Q2 will mark the first quarter with a meaningful profit and loss contribution from data centers, signaling a shift from a cyclical, crypto-driven financial services model toward a data center business with crypto optionality and a smoother earnings profile.Updated timing for tenant selection on the 830-megawatt capacity has shifted to H2, slightly later than expected, the firm said. However, the energization timeline remains unchanged, with substation buildout still the key constraint, the firm said. Chief Executive Mike Novogratz said he had hoped to share definitive financing details for phase 2 of the CoreWeave project, suggesting an announcement is close, Morgan Stanley said.Morgan Stanley reiterated its overweight rating on Galaxy Digital and adjusted its price target to $37 from $36.Price: $25.21, Change: $-1.16, Percent Change: -4.38%

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Research

Chardan Initiates Galaxy Digital at Buy With $35 Price Target

Galaxy Digital Inc. Class A (GLXY) has an average rating of buy and mean price target of $40.10, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

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