SharpLink Gaming shares dip after $400M deal to boost Ether holdings
Main Idea
SharpLink Gaming's shares dropped over 6.5% after announcing a $400 million share purchase deal to acquire more Ether, despite the company's significant ETH holdings and recent fundraising success.
Key Points
1. SharpLink Gaming's shares closed down 6.5% after announcing a $400 million deal to buy more Ether, though they gained nearly 3.5% in after-hours trading.
2. The company holds 598,800 ETH, valued at $2.57 billion, making it the second-largest public holder of Ethereum.
3. SharpLink raised nearly $900 million in the past week, reflecting market confidence in the company and Ethereum's potential.
4. Ether's price has risen 44.5% in the past 30 days, trading at $4,278, still 12% below its all-time high of $4,878 in November 2021.
5. SharpLink's co-CEO Joseph Chalom highlighted the deal as a sign of growing recognition of Ethereum's transformative potential.
Description
SharpLink Gaming shares closed trading on Monday down over 6.5% after striking a $400 million share purchase deal to buy more Ether.
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