Latest news with #SharpLinkGaming
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.
Forbes
6 days ago
- Business
- Forbes
What's Behind The 1,000% Rise For SBET Stock?
CANADA - 2025/05/01: In this photo illustration, the SharpLink Gaming logo is seen displayed on a ... More smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images) SharpLink Gaming (NASDAQ:SBET), an online performance marketing company, has seen its stock surge a whopping 1,067% in a week. This move came after the company's recent announcement of a $425 million private placement to adopt Ethereum as its primary treasury reserve asset. Separately, see What Sparked UNH Stock Crash? This move represents an interesting corporate transformation for a struggling online marketing company into what could become the premier publicly-traded Ethereum proxy, backed by the cryptocurrency industry's most influential players, including Consensys Software (founded by Ethereum co-founder Joseph Lubin) and major cryptocurrency venture capital firms such as ParaFi, Electric Capital, Pantera, and Galaxy Digital. More significantly, Joseph Lubin's appointment as Chairman establishes a direct connection to Ethereum's founding team, suggesting this extends beyond passive investment into potential strategic ecosystem integration. In fact, strong leadership is just one of the many factors we look for while constructing the Trefis High Quality portfolio, which has outperformed the S&P 500 and achieved returns greater than 91% since inception. But What About The Company's Fundamentals? SharpLink's current financial performance is a tale of operational struggles, as its core business performance presents a stark contrast to its ambitious crypto strategy. The company's revenues have shrunk 31% from $5.0 million to $3.4 million over the last 12 months, significantly underperforming the S&P 500's 5.5% growth rate. This decline accelerated in recent quarters, with quarterly revenues dropping 24.0% to $0.742 million in the most recent quarter from $0.976 million a year ago. Furthermore, SharpLink's profit margins are considerably worse than most companies across multiple metrics. Operating Income over the last four quarters was -$4.0 million, representing a very poor Operating Margin of -116.8% compared to 13.2% for the S&P 500. Operating Cash Flow (OCF) of -$4.0 million yields a very poor OCF Margin of -117% versus 14.9% for the S&P 500. Net Income of -$3.2 million indicates a very poor Net Income Margin of -94.1% compared to 11.6% for the S&P 500. These metrics demonstrate that the company's core marketing operations are generating substantial losses across all profitability measures. Now, the $425 million raise creates a new investment thesis for SBET as a publicly-traded Ethereum vehicle, similar to how MicroStrategy functions as a Bitcoin proxy. However, SharpLink's approach appears more strategically integrated, with direct Ethereum ecosystem involvement through Lubin's leadership and comprehensive crypto VC backing. Moreover, the company's focus on sports betting and iGaming industries could benefit from blockchain integration, particularly with Ethereum ecosystem support. That said, investors must weigh the significant operational challenges reflected in the company's poor profitability metrics against the transformative potential of the Ethereum strategy. Also, Ethereum price fluctuations could create significant balance sheet volatility for the company. In fact, there always remains a meaningful risk when investing in a crypto-related stock. Consider the Trefis High Quality (HQ) Portfolio which, with a collection of 30 stocks, has a track record of comfortably outperforming the S&P 500 over the last 4-year period. Why is that? As a group, HQ Portfolio stocks provided better returns with less risk versus the benchmark index; less of a roller-coaster ride as evident in HQ Portfolio performance metrics.
