SharpLink Gaming's stock fell nearly 15% after the company reported a net loss of $103 million for Q2, compared to a net income of nearly $12 million in the same quarter a year prior. The decline in revenue to $1.4 million represented a 30% decrease year-on-year. The report also noted a significant impairment loss of $87.8 million due to its holdings in a tokenized version of staked Ethereum. As Ethereum dipped below $4,400, analysts linked the declines to ongoing geopolitical uncertainties and disappointing U.S. economic data. The stock's drop signifies a troubling pivot for the company, which has shifted to an Ethereum-centric strategy since May.

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