Latest news with #SBET
Yahoo
9 hours ago
- Business
- Yahoo
Ethereum Just Got Its Michael Saylor -- And Wall Street Is Paying Attention
Shares of SharpLink (NASDAQ:SBET) have surged nearly 1,000% after announcing plans to become an Ether treasury company, echoing the playbook that turned Strategy (NASDAQ:MSTR) into a crypto market darling. The firm raised $425 million in a private placement to accumulate Ether, with Ethereum co-founder Joe Lubin stepping in as chairman. The deal was led by Consensys, Lubin's software infrastructure company, and has investors asking if this could be the beginning of a broader Ether-driven capital markets trend. Warning! GuruFocus has detected 8 Warning Signs with SBET. Lubin's conviction appears to have been shaped by a conversation with Bitcoin (BTC-USD) bull Michael Saylor six months ago. While Saylor turned Bitcoin into digital gold for balance sheets, Lubin sees untapped potential in Etherespecially as staking introduces a yield component. We'll take in more capital to buy Ether, Lubin noted, citing the possibility of share or bond issuance, but emphasized a cautious approach. Unlike earlier cycles fueled by hype, Lubin insists the focus is long-term ecosystem value, not speculation. With Bitcoin up roughly 11% year-to-date and Ether still down around 26%, some investors are beginning to reconsider the relative value of Ethereum's platform. Lubin believes Ether could play a central role in a more decentralized global economyand he's not alone. Other companies are reportedly exploring similar strategies. If this momentum builds, Ether might not just power decentralized apps but start showing up on more corporate balance sheets, much like Bitcoin did in 2020. This article first appeared on GuruFocus.
Business Insider
3 days ago
- Business
- Business Insider
SharpLink Gaming files automatic mixed securities shelf
17:28 EDT SharpLink Gaming (SBET)files automatic mixed securities shelf Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Business Insider
3 days ago
- Business
- Business Insider
‘Do Not Buy' SharpLink Gaming Stock (SBET) Warns Martin Shkreli
Investor Martin Shkreli has warned his followers on X, formerly Twitter, that SharpLink Gaming (SBET) isn't a stock worth buying. Specifically, the businessman said, 'may go to 500-1000 (i bought small, do not buy).' Confident Investing Starts Here: Shkreli highlighted SBET stock after the shares surged this week on news that it's creating an Ethereum (ETH) treasury. It has raised $425 million to do so through a private investment in public equity (PIPE). Investors will also keep in mind that Ethereum co-founder Joseph Lubin has joined SharpLink Gaming as its Chairman of the Board. Shkreli's comments on SharpLink Gaming stock carry a lot of weight. That's due to his history as an investor and the lack of analyst coverage for SBET. This has retail traders closely watching the advice of online investing personalities to get a read on SharpLink Gaming. SharpLink Gaming stock movement this week has been phenomenal. The shares have rocketed 2,639.93% over the last five days, largely thanks to its Ethereum treasury announcement. That rally continued on Friday, with SBET stock rising another 12.07%. Despite the huge interest in SBET stock, its daily active trading has hovered around 2 million shares. Shkreli shed light on this in his X post. He noted that the SharpLink Gaming float is less than 2 million shares. This is due to a registration rights agreement on the 69 million shares issued that won't be effective for months. This leaves it with a tradable market capitalization of roughly $130 million. Is SBET Stock a Buy, Sell, or Hold? While analyst coverage of SharpLink Gaming is lacking, TipRanks' AI analyst, Spark, has weighed in on the company. It offers an Underperform (40) rating for the shares and no price target. SBET stock may get more analyst coverage following its dive into Ethereum.
Yahoo
5 days ago
- Business
- Yahoo
SharpLink Secures $425M Investment, Will Hold ETH as Primary Treasury Asset
SharpLink Gaming, Inc. (NASDAQ:SBET) disclosed a noteworthy $425 million private placement through a PIPE offering on May 27, selling roughly 69.1 million shares at a price of $6.15 per share. The investment is led by Consensys Software and includes well-known cryptocurrency venture capital firms, such as Pantera Capital, Electric Capital, and ParaFi Capital. nick-chong-0bO235Rhqec-unsplash The company intends to purchase Ethereum (ETH) as its main treasury reserve asset with the money raised. Joseph Lubin, co-founder of Ethereum and CEO of Consensys, will assume the role of chairman of SharpLink's board upon the closing of the offering, which is anticipated to occur on May 29. This move effectively creates a new investment thesis for the stock as an Ethereum proxy on public markets, despite the company stating that it will continue its primary business of serving the sports betting and iGaming industries. That said, in contrast to other companies that have taken the same route, SharpLink Gaming, Inc. (NASDAQ:SBET) seems to have gathered support from insiders in the ETH landscape, which raises the possibility of further strategic advancements beyond merely holding ETH in its treasury. While we acknowledge the potential of SBET to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SBET and that has 100x upside potential, check out our report about the cheapest AI stock. Read Next: and Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
SharpLink Secures $425M Investment, Will Hold ETH as Primary Treasury Asset
SharpLink Gaming, Inc. (NASDAQ:SBET) disclosed a noteworthy $425 million private placement through a PIPE offering on May 27, selling roughly 69.1 million shares at a price of $6.15 per share. The investment is led by Consensys Software and includes well-known cryptocurrency venture capital firms, such as Pantera Capital, Electric Capital, and ParaFi Capital. nick-chong-0bO235Rhqec-unsplash The company intends to purchase Ethereum (ETH) as its main treasury reserve asset with the money raised. Joseph Lubin, co-founder of Ethereum and CEO of Consensys, will assume the role of chairman of SharpLink's board upon the closing of the offering, which is anticipated to occur on May 29. This move effectively creates a new investment thesis for the stock as an Ethereum proxy on public markets, despite the company stating that it will continue its primary business of serving the sports betting and iGaming industries. That said, in contrast to other companies that have taken the same route, SharpLink Gaming, Inc. (NASDAQ:SBET) seems to have gathered support from insiders in the ETH landscape, which raises the possibility of further strategic advancements beyond merely holding ETH in its treasury. While we acknowledge the potential of SBET to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SBET and that has 100x upside potential, check out our report about the cheapest AI stock. Read Next: and Disclosure: None.
