We recently published As Wall Street Roars, These 10 Stocks Outshine. Galaxy Digital (NASDAQ:GLXY) is one of last week’s top performers.
Galaxy Digital grew its share prices by 9.66 percent on Monday to close at $21.9 as investors scooped up shares amid the broader market rally, while continuing to digest its successful raising of $175 million in fresh funds for its expansion plans.
In a statement late last week, Galaxy Digital (NASDAQ:GLXY) said that the fundraising program called Galaxy Ventures Fund I (GVF I) was oversubscribed by $25 million following strong investor demand, having targeted only $150 million initially.
According to the company, GVF I attracted a diverse group of limited partners, including institutional investors, family offices, and strategic digital asset businesses. The portfolio included startups, namely 1Money, Arch Lending, Ethena, M^0, Monad, Plume, Rail, Rain, RedotPay, Ubyx, and Yellow Card, among others.
A portfolio manager pointing to a digital graph of emerging market assets.
Proceeds from the offer will be used to invest in early-stage companies developing critical infrastructure and applications for the on-chain economy, as well as stablecoins, payments, and tokenization, among others.
While we acknowledge the potential of GLXY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
