Crypto Bank Galaxy Digital Takes Massive Hit in Stock Market Debut

collected by :Haron Adler

referring to Crypto Merchant Bank Has Rocky DebutDays after revealing that Galaxy Digital, his cryptocurrency merchant bank, posted a $134 million loss during Q1, the firm took a massive hit in its stock market debut. CNBC reports that Galaxy Digital, which trades under ticker symbol GLXY, saw its shares plunge by 20 percent during the first half hour that it was listed on the Canada-based TSX Venture Exchange (TSX-V). The stock had opened at C$2.75, a full 45 percent below the C$5.00 at which investors had purchased it during a January private placement and began to careen downwards as soon as the markets opened. Thursday, however, brought a moderate recovery for GLXY shares, which traded as high as C$2.40 shortly after the market opened and were valued at C$2.27 at the time of writing at 12:20 pm ET. Novogratz Stays OptimisticOf course, the fact that Galaxy Digital's stock began trading at all is its own silver lining.

Jim Cramer: We Have a Stronger Stock Market Than China

Amid renewed worries about a trade war with China, TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer reminds investors that the U.S. stock market is stronger than China's. Industrials stocks moved lower Thursday amid worry that President Trump may raise tariffs against China.

Using the Stock Market to Invest in the Future of Sneakers Could Prove Lucrative

As it stated in Just do it: open that digital checkbook and place a bet on the future of footwear using the stock market. Greenberger thinks Foot Locker's lagging stock price this year (down slightly) is a sign of what's to come in a world shifting to digital shopping. "With Nike products representing 67% of Foot Locker merchandise, investors assume if Nike returns to growth, so must Foot Locker. Cautions Greenberger, "If these core customers increasingly shop directly with Nike, Foot Locker could experience outsized sales declines. A wager against Foot Locker would be the way to go, based on Greenberger's analysis.

What Happened in the Stock Market Today -- The Motley Fool

Groupon is focusing on growing gross profit in a turnaround effort, and had some success in its international business. International gross profit increased 11%, or 4% in currency-neutral terms, to $104.3 million. North America gross profit fell 6% to $219.4 million. Overall, gross profit fell 1%, or 3% excluding currency effects. Compared with last quarter, the number of active customers fell from 49.6 million to 49.3 million, but the gross profit per active customer improved from $27.16 to $27.27.

Japan's Biggest Theme Is Proving Tough to Play in Stock Market

Some companies will adapt better than others, deploying automation and boosting productivity so they can afford bigger pay packets to lure job applicants. Bank of America, Goldman Sachs Group Inc. and Morgan Stanley all came out with calls on sectors or companies that would do better or worse than others thanks to the labor-market's transformation. Bank of America, Goldman and Morgan Stanley all picked a winner with Recruit last year. "There will be various winners and losers."Rather than make specific bets on companies or sectors, another tactic to consider could be to go with market capitalization. "Larger firms can substitute capital for labor," or outsource work overseas, allowing them to keep costs down, he said.