Following Donald Trump's victory in the U.S. presidential election on November 5, analysts predict further gains for Galaxy Digital's stock, which surged 25% on election day. The increase is attributed to expectations of enhanced institutional cryptocurrency adoption, encouraged by Trump's pro-crypto campaign stance. Mark Palmer, a fintech analyst at Benchmark, raised his price target for Galaxy shares to 29 CAD from a previous 19 CAD, with the stock currently trading at approximately 23 CAD. This uplift in stock price aligns with expectations of Galaxy's continued efforts to list on the Nasdaq exchange. CEO Michael Novogratz noted that the company's operations were robust during the election, further reinforcing their market positioning. Trump's policy proposals suggest a promise to position the U.S. as a leading nation in the cryptocurrency space, which could spur growth in the industry.

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