Galaxy CEO Buys $9.9M of Company Stock on the Dip, Board Approves Additional $200M Buyback Plan

Odaily: Galaxy Digital CEO Michael Novogratz has purchased 760,000 shares of the company's Class A stock through Galaxy Group Funding ECI U LLC, with a total transaction value of approximately $9.9 million and a blended average purchase price of about $12.98 per share. According to a Form 4 filing submitted to the U.S. Securities and Exchange Commission (SEC), the purchase was made in two tranches: 528,757 shares (weighted average price of $12.694) and 231,243 shares (weighted average price of $13.632).

Previously, Galaxy's stock fell about 7% on the Nasdaq on November 5 to around $13, after declining about 17% the prior trading day, bringing the cumulative decline to roughly 41% from the October 6 closing price. The increased stake comes as Galaxy's board has approved an additional $200 million share repurchase program; the company had repurchased 9.8 million shares as of the date of its third-quarter earnings disclosure. In addition, Galaxy's third-quarter data center business adjusted EBITDA reached $69 million, a significant increase from $11 million in the second quarter. (TheEnergyMag)

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Japanese and South Korean stock markets close with collective plunge of 6%
According to Odaily: Gate data shows that the Nikkei 225 index closed down 5.96% at 57,434.77 points; South Korea's KOSPI index closed down 6.02% at 5,059.65 points, hitting a new low since April. SK Hynix fell more than 10%.
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Analysis: Nasdaq swings from fire to ice in two days, historical experience points to a subsequent return to upward momentum
Odaily reports: US tech stocks suffered a fierce sell-off overnight. The Nasdaq Composite Index (IXIC) plunged more than 5% on Thursday, closing more than 11% below the all-time high set last month, officially entering technical correction territory. Historical data shows that in the short term after a correction, the market may continue to come under pressure, but in most cases, the Nasdaq is subsequently able to gradually resume its upward momentum.Over the past decade, the Nasdaq has experienced 10 similar corrections. In the pullbacks of 2025, 2022, 2020, and 2018, further selling occurred within one month after the correction. However, except for 2022, the Nasdaq re-entered an upward phase six months later in all of these periods.In terms of overall performance, the Nasdaq rose an average of 9.41% within three months after hitting a correction low, and an average of 17.03% within six months. January 2022 was a clear exception: the Nasdaq fell a further 18.3% within six months after the correction, with a cumulative decline of 24.3% after one year.
Japanese stocks fall into a bear market; Korean stocks close down 6% after emergency "market support"
Odaily reports: According to Gate data, the Nikkei 225 Index closed on November 6 (Friday) down 3,666.99 points, a drop of 6.00%, at 57,410.91 points; the index has fallen more than 20% from its June closing peak, confirming entry into a technical bear market.South Korea's KOSPI Index closed down 324.15 points, a drop of 6.02%, at 5,059.65 points; the index fell more than 8% in early trading and briefly lost the 5,000-point mark, triggering a circuit breaker for the 11th time this year. The South Korean government subsequently held an emergency meeting to review market conditions, and the decline in Korean stocks narrowed somewhat. South Korea's KOSDAQ closed down 5%; SK Hynix fell more than 10%, and Samsung Electronics fell 6.35%.
Tonight's Nonfarm Payrolls Report Takes Center Stage: Expected to Show Typical "Weak Gains but Stable Overall Picture"
Odaily reports: At 9:30 PM Beijing time on Friday, the United States will release its October nonfarm payrolls data. With recent pullbacks in major tech stocks such as Nvidia (NVDA.O) and rising risk-aversion sentiment in the market, investors are turning their full attention to this report. As a key indicator for gauging economic momentum, this month's data is expected to display the typical characteristics of "weak gains but a stable overall picture."Based on consensus expectations from major market institutions, October nonfarm payrolls are projected to increase by approximately 59,000 to 65,000. Although this marks a slight rebound from the preliminary September reading of 29,000, it remains at a notably low level rarely seen in recent years.
Analysis: US Tech Giants Expected to Maintain Existing AI Investment Plans in the Short Term
Odaily reports: The Democratic Party's clear victory in the elections has led the market to expect that the US may strengthen regulation of the artificial intelligence (AI) industry and data center construction. However, Michael Krautwurst, economist and portfolio manager at ICM Investment Bank, said in a report that the likelihood of a genuine shift in the direction of US AI policy appears low, and therefore hyperscalers are expected to stick with their existing investment plans for the time being.Krautwurst noted that hyperscalers are a significant source of long-dated bond supply. Driven by this issuance trend, US tech giants have become a distinct issuer group in the investment-grade bond market over the past two years. For this group, the traditional market correlation between credit ratings and bond spreads applies only to a limited extent. (Sina Finance)
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