SharpLink Gaming stock fell nearly 15% on Friday after the company reported a $103 million net loss for the second financial quarter, a stark drop from nearly $12 million in net income in the same period last year. Revenue decreased by 30% year-over-year to $1.4 million, with a gross profit of only $0.3 million, down 50% from the previous year. These disappointing results followed the firm’s pivot to an Ethereum-centered corporate strategy. SharpLink attributed the losses to a $87.8 million non-cash impairment loss on its LSE holdings and $16.4 million linked to stock-based compensation. As Ethereum prices dipped below $4,400, the firm holds 728,804 ETH valued at $3.23 billion. This price decrease, part of a broader crypto market trend, came amid geopolitical uncertainties and negative economic data, impacting investor confidence.

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