Sharplink Gaming, one of the largest ether (ETH) financing companies, made a meltdown in trading after hours yesterday as the stock crashed from $33 at Nasdaq's closing bell to $33 between 8pm.
Two weeks ago, Sharplink stock (SBET) was worth $124. Lost 91% of the value Because this is always expensive.
Panicked at the apparently surprising announcement of shareholder dilution, a viral tweet from Bullock's Stephen Zen claimed that “essentially, all participants on SBET's private property submitting to throw away all their shares within a month of announcing the ETH Treasury strategy move.”
Surprisingly, Sharplink's trading volume exploded more than 10 times higher than average, with daily losses exploded on a percentage basis Exceeded previous trading date.
Sharplink game “FUD”
The conglomerate conglomerate of Joe Rubin, a lawyer for Consensey, took action to explain the situation.
In his opinion, the S-3ASR form in question is a “standard Securities and Exchange Commission (SEC) resale registration” and “does not reflect actual sales.”
Incredibly, the lawyer completely dismissed the panic.A bunch of FUD by people who clearly don't understand. ”
Needless to say, market participants in NASDAQ transactions outside of business hours were totally opposed.
Read more: Ethereum Giant Consensys sues former fund manager for resume fraud
The shelf registration statement was a requirement for the resale of more than 58 million shares in SBET and was part of the capital raising to buy ETH.
Before it collapsed over the past two weeks, Sharplink was aiming to be a illustrious example of the non-Bitcoin Crypto Treasury Company. Certainly Joe Rubin himself was the chairman of the company and it grew up. $450 million to build the Cryptocurrency Department.
