Tiger Brokers

BUZZ-SharpLink Gaming surges after $1.5 bln share repurchase program

Reuters
Nov 13
BUZZ-<a href="https://laohu8.com/S/SBET">SharpLink Gaming</a> surges after $1.5 bln share repurchase program

** Shares of SharpLink Gaming SBET.O rise nearly 2.4% to about $11.8 premarket

** SBET to repurchase up to $1.5 billion of its common stock

** Co says it has repurchased 1.94 million shares of common stock for $31.6 million as of September 30

** Q3 revenue rose 12 times to $10.8 mln from $0.9 mln a year ago, driven by its Ethereum $(ETH)$ treasury strategy

** "We've doubled our ETH per share concentration from 2.0 to 4.0 since inception of the treasury," says Co-CEO Joseph Chalom

** Co intends to deploy $200 mln in ETH on Consensys' Linea network to boost Ethereum decentralized finance yields

** As of last close, shares up 49.7% YTD

(Reporting by Megavarshini G. Somasundaram in Bengaluru)

((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))

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