During the third quarter, Montreal-based Formula Growth invested $4.7 million in Galaxy Digital, acquiring 139,195 shares. The stake is valued at 1.67% of the fund’s $281.08 million in U.S. equity assets. Galaxy Digital’s stock price is currently $24, up only 2% in the past year, underperforming the S&P 500.

Formula Growth initiated a stake in Galaxy Digital, acquiring 139,195 shares worth $4.71 million, as reported in a recent SEC filing. This position represents approximately 1.67% of the fund’s U.S. equity assets. Galaxy Digital’s stock is trading at $24, reflecting a modest 2% increase over the past year.

Galaxy Digital operates in digital asset trading, derivatives, lending, bitcoin mining, and more, serving institutional investors and individuals. The company generates revenue through trading fees, asset management, financing, and advisory services. With a diversified platform, it aims to provide leading financial services in the crypto and blockchain ecosystem.

Montreal-based Formula Growth added Galaxy Digital shares to its portfolio, investing $4.7 million in 139,195 shares. Despite a 40% drop in the stock price, the company reported strong earnings in the third quarter, with net income of $505 million and $629 million in adjusted EBITDA. The balance sheet remains robust, with $1.9 billion in cash.

Formula Growth revealed a new position in Galaxy Digital, investing $4.71 million in 139,195 shares. Galaxy Digital’s stock price is currently at $24, showing a minimal 2% increase over the past year. The company offers various financial services in the digital asset and blockchain sector, catering to institutional investors and corporations.

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