Shares of SharpLink Gaming have plunged over 70% in after-hours trading following the company’s filing of an S-3 registration statement with the U.S. Securities and Exchange Commission (SEC). This move allows for potential future securities sales. The drop stems from concerns surrounding market dilution triggered by a proposed sale of nearly 59 million common shares, including warrants and shares from a private placement. While the company maintains this filing is a standard regulatory procedure and not an indication of immediate sale or dilution, investor apprehension remains high despite CEO Joseph Lubin’s clarifications on social media. The stock continues to trade at a substantial 70% loss, underscoring persistent market uncertainty.