Galaxy CEO Mike Novogratz buys about $9.9M in shares after steep monthly slide

The Galaxy founder picked up 760,000 Class A shares as the stock sank toward its 52-week low amid a crypto and AI selloff Mike Novogratz just made a roughly $9.9 million bet on his own company. The Galaxy Digital founder and CEO bought 760,000 Class A shares on November 5, 2026, after the stock lost more than 40% of its value in about a month. The purchase, by the numbers Novogratz paid an average of $12.98 per share for the 760,000 shares of Galaxy Digital Inc. (NASDAQ: GLXY). That puts the total at approximately $9.9 million. The timing was hardly gentle. On the day of the purchase, Galaxy shares fell 7% to $12.98, sitting uncomfortably close to a 52-week low of $11.78. The broader slide has been brutal. Galaxy’s stock dropped about 41% between October 6 and November 5, and one measure put the monthly decline at 43.5%. Novogratz described the buy as a wager on generational shifts in onchain finance and AI infrastructure. He also pointed to what he called a gap between how the market prices Galaxy and what the business is actually worth. “Massive disconnect.” That was his phrase for the distance between Galaxy’s share price and its underlying corporate value. Why Galaxy stock got ...