New addition added to the portfolio of current Ten Under $10 positions
Galaxy Digital is a diversified financial services and investment management innovator in the digital asset, cryptocurrency, and blockchain technology sector.
Galaxy Digital (BRPHF) $8.40 is listed on the Toronto Stock Exchange, Ticker GLXY.to and in the USA pick sheets, Ticker BRPHF.
Founded by former Goldman Sachs Partner, and more recently, Partner and President of Fortress Investment Group LLC., Mike Novogratz is the CEO and Chairman of Galaxy Digital.
In looking at Galaxy, we found that the metric we want to watch is total assets and growth of assets. They are actively involved in trading crypto and Blockchain assets, mining crypto currencies, venture capital investing in Blockchain and crypto currency companies, financing and managing assets for other companies involved in Blockchain and Crypto. As such earnings will be and are lumpy. Q3, when released. 2020 assets amounts are posted further down in the article.
Galaxy has had a big run-up from $0.41 to its current price of $8.40, we have taken a position in Galaxy and are adding it to the Ten Under $10 list. Frankly, we don’t think will be under $10 if we wait much longer. We are targeting this company as a core position and would use weakness to buy more shares should the price drop – with no stop loss provision. Blockchain is in the early years of commercializing its procedures and applications. A public venture firm like Galaxy, is exactly what we want to attach ourselves to for a decade and longer in a rapidly growing industry such as Blockchain and Crypto.
- Shares outstanding are about 68 million however fully diluted shares are about 200 million.
- Assets 9/30/20 are $403,315,533, Vs 12/31/19 assets of $347,785,081.
- Earnings for the nine months ending 9/30/20 we $55.3 million down from the comparable nine month in 2019 of $58 .5 million.
- Market Cap of the stock is stated at TradingView as $709.4 Million.
Financial statements can be found on the company website.
Website Linked here
With Bitcoin and Ethereum taking big run-up in Q4 2020, we believe the asset value will look good vs the prior year.
LOTM is extending beyond owning Bitcoin or Crypto miners and seeking companies actively involved in the use of Blockchain infrastructure and companies that support the buildout of Blockchain/Crypto ecosystem.
Galaxy Holding is one such Company involved in multiple aspects of financing, investing, and managing portfolios of blockchain related activities.
Mechanical Tech/ EcoChain is another, with its focus on Alt-Energy Data Centers for Blockchain app development and crypto Mining. We have more companies we will be sharing with you soon. There is no question this technology will change how companies do business in a more effective and efficient way. It is a brave new world out there and while we are not early to Blockchain we are early on the application of Blockchain. Hang tight. It is going to an exciting ride.
An account related to LOTM, (ZTA) has initiated a position in Galaxy Holding (BRPHF) and has holds a position in MKTY.
Where Value meets Buy Signals!
Feel free to forward or recommend to others.
* An account related to LOTM holds a position in this security.
Neither LOTM nor Tom Linzmeier is a Registered Investment Advisor.
Please refer to our web site for full disclosure at www.LivingOffTheMarket.com ZTA Capital Group, Inc.
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