Sharplink Gaming (NASDAQ:SBET) Stock Price Up 15.8% - Here's What Happened

Key Points

• Sharplink Gaming's stock price surged 15.8% on Monday, reaching a high of $19.15 and closing at $19.86, despite a trading volume decrease of 26% from its average.
• The company reported an earnings per share (EPS) of −$1.73 for the latest quarter, with revenue at $0.74 million and a negative net margin of 94.08%.
• CEO Rob Phythian and CFO Robert Michael Delucia made significant insider purchases of stock, increasing their holdings by 351.25% and 111.59%, respectively.

Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report) rose 15.8% on Monday . The company traded as high as $19.15 and last traded at $19.86. Approximately 7,864,938 shares were traded during trading, a decline of 26% from the average daily volume of 10,642,278 shares. The stock had previously closed at $17.14.

Sharplink Gaming Stock Performance

The stock has a 50 day simple moving average of $24.74 and a two-hundred day simple moving average of $11.39.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported ($1.73) EPS for the quarter. Sharplink Gaming had a negative net margin of 94.08% and a negative return on equity of 162.25%. The business had revenue of $0.74 million for the quarter.

Insider Transactions at Sharplink Gaming

In other news, CEO Rob Phythian acquired 44,640 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were bought at an average cost of $6.72 per share, for a total transaction of $299,980.80. Following the acquisition, the chief executive officer owned 57,349 shares in the company, valued at approximately $385,385.28. This represents a 351.25% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert Michael Delucia acquired 7,440 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was purchased at an average price of $6.72 per share, for a total transaction of $49,996.80. Following the completion of the acquisition, the chief financial officer owned 14,107 shares in the company, valued at $94,799.04. The trade was a 111.59% increase in their position. The disclosure for this purchase can be found here. 10.50% of the stock is owned by company insiders.

Sharplink Gaming Company Profile

SharpLink Gaming, Inc operates as an online technology company that connects sports fans, leagues, and sports websites to sports betting and iGaming content. The company operates through four segments: Affiliate Marketing Services United States, Affiliate Marketing Services International, Sports Gaming Client Services, and SportsHub Games Network.

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