[Sharplink plummets 91% from peak market value due to ETH treasury panic] On June 14, news broke that Sharplink Gaming, one of the largest Ethereum (ETH) treasury companies, experienced a crash in after-hours trading yesterday, with its stock price plummeting from $33 at the close of NASDAQ to below $11 by 8 PM. Two weeks ago, Sharplink's stock (SBET) was valued at $124, meaning its value has shrunk by 91% since then. The market panicked over an unexpected announcement of shareholder dilution, and a viral tweet from TheBlock's Steven Zheng claimed, "Almost all participants in the SBET private placement have sold all their shares just under a month after announcing the ETH treasury strategy initiative." Alarmingly, Sharplink's trading volume surged more than ten times the average, with its single-day percentage loss exceeding that of any previous trading day.
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Today June 14, Saturday
[Sharplink plummets 91% from peak market value due to ETH treasury panic] On June 14, news broke that Sharplink Gaming, one of the largest Ethereum (ETH) treasury companies, experienced a crash in after-hours trading yesterday, with its stock price plummeting from $33 at the close of NASDAQ to below $11 by 8 PM. Two weeks ago, Sharplink's stock (SBET) was valued at $124, meaning its value has shrunk by 91% since then. The market panicked over an unexpected announcement of shareholder dilution, and a viral tweet from TheBlock's Steven Zheng claimed, "Almost all participants in the SBET private placement have sold all their shares just under a month after announcing the ETH treasury strategy initiative." Alarmingly, Sharplink's trading volume surged more than ten times the average, with its single-day percentage loss exceeding that of any previous trading day.