Crypto US stocks are under pressure after Galaxy Digital (GLXY), MARA Holdings (MARA), and GameStop (GME) all posted sharp losses yesterday.
GLXY dropped over 6% following news of its first underwritten public offering as a Nasdaq-listed company. MARA slid nearly 10% despite reporting a record-breaking revenue day driven by Bitcoin’s surge. Meanwhile, GME fell over 10% after revealing a $512 million Bitcoin purchase, with the market showing little enthusiasm for the move.
Galaxy Digital (GLXY)
Galaxy Digital Inc. (GLXY) has officially launched its first underwritten public offering as a Nasdaq-listed company, releasing 29 million shares of Class A common stock.
Of this total, 24.15 million are being offered directly by Galaxy, while 4.85 million come from existing shareholders.
The firm plans to use its proceeds to acquire newly issued LP Units from its operating subsidiary, Galaxy Digital Holdings LP. The funds will be used to expand AI and high-performance computing infrastructure at its Helios data center in West Texas.
GLXY Price Analysis. Source: TradingView.
Major investment banks, including Goldman Sachs, Jefferies, and Morgan Stanley, are leading the offering, which is still awaiting full SEC approval before shares can officially be sold.
GLXY stock closed yesterday down 6.26% but is showing slight pre-market recovery with a 1.08% gain. Analyst sentiment remains highly optimistic—TradingView shows all nine analysts covering the stock rate it a “Strong Buy,” projecting a potential upside of 35.95% with a target price of $27.71.
On the downside, if the stock fails to gain traction, it could slide toward support at $18.80. However, a shift in momentum could see GLXY testing the $21.20 resistance, and a successful breakout there could open the path to $23.42.
MARA Holdings (MARA)
MARA Holdings, the world’s largest publicly traded Bitcoin mining firm, recorded its most profitable day ever on May 27, reaching an annualized revenue peak of $752 million.
The company’s focus on vertical integration and expanding Bitcoin treasury—now worth over $5.28 billion—helped solidify its strategic position in the mining sector amid Bitcoin’s breakout above $112,000.
MARA Price Analysis. Source: TradingView.
The stock surged nearly 10% on May 27 but gave back those gains with a 9.61% decline yesterday, though it’s showing signs of recovery, up 2.76% in pre-market trading.
If the correction continues, MARA could retest support at $14.77, with further downside risk toward $12.63. On the upside, a momentum shift could push the stock back above $16.50, with resistance around $16.70.
According to TradingView, 13 analysts forecast an average one-year upside of nearly 38% with a price target of $20.50; among 17 analysts covering MARA, 7 rate it a “Strong Buy,” 9 a “Hold,” and 1 a “Strong Sell.”
GameStop Corp (GME)
GameStop (GME) has made headlines with its surprise purchase of 4,710 Bitcoin, worth approximately $512 million. This makes it the 13th largest public holder of BTC globally.
The move marks a major step in the company’s shift toward digital assets, building on previous ventures into NFTs and self-custody wallets.
GME Price Analysis. Source: TradingView.
However, the announcement had little positive impact on the stock, with shares plunging 10.85% yesterday—suggesting the market had already priced in the decision after earlier disclosures.
The company’s limited communication about the acquisition also drew criticism, with some calling for more transparency, similar to MicroStrategy’s approach.
GME is down another 0.32% in pre-market trading. If the correction continues, it could test support at $29.38. A sustained downtrend could bring the stock as low as $25.65 in the short term.
Despite the strategic shift into Bitcoin, investor sentiment appears cautious, focusing more on price action than long-term vision.
