Opinions
Keith Richards
Galaxy Digital Holdings Ltd.
GLXY-T
RISKY
Aug 27, 2025
Stock price when the opinion was issued
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Premium contentGLXY invests in early stage companies building crypto trading platforms. They have recently partnered with Invesco to create a ethereum ETP. It is a lower risk method of riding the wave of crypto, without the underlying price volatility. It trades at 11x earnings, under book value and supports a resounding 73% ROE. We suggest setting a stop-loss at $12, looking to achieve $20 -- upside potential of 25%. Yield 0%.
(Analysts’ price target is $20.04)Premium contentPremium contentGLXY initially went public via a reverse takeover of a Canadian shell company in 2018, which automatically made GLXY a Canadian-listed entity. It is a Canadian-domiciled company for regulatory purposes, meaning its parent company is incorporated in Canada, but its operational headquarters are in New York. Similarly, SHOP is headquartered in Canada, but also trades on the US stock exchange.
GLXY has had a substantial run up in price, and we think there may be an opportunity in the low $20s at some point, but this could require a lot of investor patience. Near-term, we think the high $20s can represent a good entry point, while acknowledging that it is highly volatile and could see big drawdowns at any time.
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Premium contentPremium contentPremium contentPremium contentOur PAST TOP PICK with GLXY has triggered its stop at $25. To remain disciplined, we recommend covering the position at this time. When combined with our previous guidance, this will result in a net investment gain of 42%.
Jittery stock. Toying with the old high from 2021, with a lot of stress, or excitement, in between. Pulling back into the zone from 2021-2022. Testing old resistance, really don't want to see it fail. Needs to find legs pretty soon, and then you'd be fine. If not, he'd run. Not for the timid.