Shares in Sharplink Gaming plummeted by 73% in after-hours trading following a filing to register a large volume of shares for potential resale. The chairman, Joseph Lubin, clarified that the filing was for potential resale, not an actual sale, as part of a post-PIPE procedure. The company is gearing up for a significant Ether purchase as part of its new Ethereum-based treasury strategy. Despite the stock initially dropping to under $8, it has since slightly recovered. The filing, which was misinterpreted by market watchers, triggered panic among existing shareholders. However, experts suggest that the firm could reverse its losses by announcing the anticipated $1 billion Ether purchase. This incident highlights the volatility and risks associated with investments in the crypto market, emphasizing the importance of conducting thorough research before making any financial decisions. Read more AI-generated news on: https://app.chaingpt.org/news

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