SharpLink Stock Dives After Q2 Loss as Ethereum Price Surge Cools
SharpLink Gaming’s shares plummeted Friday as the online gambling marketer disclosed disappointing earnings for the second financial quarter.
The Ethereum treasury’s shares are trading at $20.04, down nearly 15% in intraday trading.
SharpLink reported $103 million in net losses for the three-month period ending on June 30—a stark contrast to its nearly $12 million net income during the same quarter last year.
Revenue came in at $1.4 million for the second quarter, down 30% from the same time last year. The company clocked $0.3 million gross profit, marking a 50% decrease from the first half of last year.
The report marks SharpLink’s first earnings report since the firm announced its pivot to an…
