Galaxy Digital ( (TSE:GLXY) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Galaxy Digital’s stock is on the rise due to a surge in options market activity, with call trading volumes tripling the norm. This heightened interest is fueled by increased implied volatility as investors anticipate the company’s upcoming earnings report. Analysts have also raised their price targets, influenced by a more favorable regulatory climate for cryptocurrencies and the rising demand for AI data centers. Additionally, a partnership with K Wave Media and the Genius Act’s passage, which supports digital assets, have bolstered the positive sentiment around the stock.
More about Galaxy Digital
YTD Price Performance: 71.82%
Average Trading Volume: 5,500,046
Technical Sentiment Signal: Buy
Current Market Cap: $11.71B
For further insights into GLXY stock on TipRanks’ Stock Analysis page.
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