AssessmentI value this firm's opinion so just initiated a position. In addition, the Quantative Equity Research Report indicates that GLXY's fair value is $8.45. GLTA
Growth Model Portfolio
Add New 1.5% Position in Galaxy Digital Holdings (GLXY)
Trade Rationale – GLXY is a digital asset and blockchain leader that serves a diverse client base of institutions, startups, and qualified individuals. It has three main operating segments: 1) global markets which include institutional-grade expertise and access to digital assets via trading, derivatives, M&A, etc., 2) asset management, offering a suite of institutional-grade investment vehicles, and 3) digital infrastructure solutions, which includes bitcoin mining and hosting services. The CEO and Founder, Mike Novogratz, was formerly a Partner and President with Fortress Investment Group and held a senior role at Goldman Sachs. The company generates fee income, revenue from digital asset trading, investments, and lending income. The company benefits significantly from increasing interest in the crypto ecosystem, and it has done a good job of building up its business over the past several years throughout the crypto cycles. This is a higher-risk name, where significant volatility is to be expected, however, with rising interest from traditional financial firms, such as Blackrock, into the digital assets space, and the potential for a long-awaited Bitcoin ETF, we feel that GLXY is at a good position right now to benefit from any tailwinds in the digital asset space over the next few or more years. (5iResearch)