Published on August 2nd, 2018 | by bitcoin0
Novgorod Crypto Bank’s Galaxy Digital Blue 20% Torrent Exchange shares in shares
Shares in Mike Novogratz’s crypto-focused merchant bank plunged 20 percent during their trading debut on a major Canadian stock exchange Wednesday, August 1, CNBC reported.
After opening at $2.75 Canadian dollars ($2.11 USD) apiece for their first ever listing on Toronto’s TSX Venture Exchange, shares in Galaxy Digital LP fell 20 percent in the first half hour of trading.
Shares were down further to $1.98 CAD ($1.52 USD) as of 1:48 p.m.
Galaxy Digital LP is trading as ‘Galaxy Digital Holdings Ltd’ under the stock exchange’s GLXY ticker, slightly renamed after its founder, former Goldman Sachs partner and crypto bull Mike Novogratz, opted to secure the listing via a so-called “reverse takeover” route.
In late June, Galaxy Digital released its first quarterly report for 2018, posting $134 million in losses with $85.5 million as an unrealized loss on digital assets.