SharpLink's stock price soared 2000% last week before falling back 30%, completing $450 million in financing and launching ETH strategy

Odaily News SharpLink Gaming (SBET) shares fell 30% in early trading on Monday, giving up some of the 2,000% gain last week. Previously, the company announced that it had completed a $450 million financing, which it plans to use to purchase Ethereum and use as a company treasury asset. At the same time, Ethereum co-founder Joseph Lubin will join the board of directors and serve as chairman.
This round of financing was completed by issuing 69 million shares, but according to Martin Shkreli, only 2 million shares are currently available in the market, and the remaining shares are subject to the registration rights agreement and are expected to be traded in a few months. The low circulating stock capital once pushed the stock price to soar from less than $3 to more than $100 last week, but it is currently starting to fall due to the realization of good news and market supply and demand fluctuations. (CoinDesk)