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Investing.com -- Shares of Galaxy Digital (TSX:GLXY) soared 14% today following the company’s successful listing on the Nasdaq Global Select Market. The move, which had been announced last month, represents a significant milestone for the digital asset and artificial intelligence firm.
Galaxy Digital’s CEO and Founder, Mike Novogratz, expressed confidence that the Nasdaq listing would enhance the company’s value and broaden its investor base. "We believe that listing on the Nasdaq would mark a transformative milestone for Galaxy that would position us to advance our vision of building a gateway for investors to safely and efficiently access every corner of the digital asset and artificial intelligence ecosystems," Novogratz stated.
The company began trading on the Nasdaq today under the ticker symbol GLXY, while also maintaining its listing on the Toronto Stock Exchange (TSX). The dual listing is expected to continue for a period following the Nasdaq debut. The existing shares on the TSX will trade under the new CUSIP 36317J209, and the BRPHF shares previously trading over-the-counter converted into GLXY shares on Nasdaq using the same CUSIP.
This strategic move by Galaxy Digital comes at a time when the digital asset sector is gaining increased attention from investors seeking to diversify their portfolios with cryptocurrency and AI-related investments. The Nasdaq listing is seen as a way for Galaxy Digital to capitalize on this trend and enhance its visibility in the global market.
As the company embarks on this new chapter, investors responded positively to the news, reflecting optimism about Galaxy Digital’s growth prospects on the Nasdaq platform. The stock’s performance today is a clear indication of investor enthusiasm for the company’s strategic direction.
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