SBET Stock Plunges After SEC Filing Sparks Confusion

Sharplink Gaming’s stock has experienced a dramatic drop following the company filing with the U.S. Securities and Exchange Commission (SEC) to raise $1 billion in funding for its Ether treasury. This move triggered a sharp decline of around 73% in after-hours trading on Thursday, according to data from TradingView. While the stock saw a significant increase earlier this month, reaching an impressive 868.15% gain within a single month and a staggering 302.60% year-to-date, confusion about the connection between this recent filing and Sharplink Gaming’s existing token has emerged.