Galaxy Digital shares jump 18% after company approves $200 million buyback

The repurchase plan follows a volatile earnings week and signals confidence in the firm’s balance sheet. What to know : Shares of Galaxy Digital jumped 18% to $19.90 after the company authorized a share repurchase program of up to $200 million over the next 12 months. The buybacks, which may be conducted in the open market or through private transactions, signal management’s view that the stock is undervalued and that the firm has excess capital. Despite reporting a fourth-quarter net loss of $482 million, Galaxy highlighted $426 million in adjusted gross profit for the year and $2.6 billion in cash and stablecoins, underscoring its liquidity and balance-sheet strength.