Shares of SharpLink Gaming Inc (NASDAQ:SBET) are trading lower Friday, pulling back from a significant rally earlier in the week. The decline follows a prospectus filed with the SEC after market close on Thursday, revealing plans to massively increase its stock offering program.
What To Know: In the filing, SharpLink announced it is increasing its at-the-market sales agreement by $5 billion, bringing the total amount of common stock that may be sold to $6 billion. The company stated it intends to use substantially all of the proceeds to acquire more Ethereum (CRYPTO: ETH). The agreement with sales agent A.G.P./Alliance Global Partners was also amended to permit the forward sale of shares.
This week's earlier excitement was sparked by Tuesday's announcement that SharpLink had become the world’s largest corporate holder of Ethereum, possessing 280,706 ETH. The company financed its recent crypto purchases by raising capital through its existing ATM facility.
To maximize returns, SharpLink has staked 99.7% of its Ethereum holdings, a move that has already generated 415 ETH in rewards since June 2, 2025. While the market initially cheered the company’s aggressive crypto strategy, Friday’s downturn suggests investor concern over potential share dilution from the newly upsized multi-billion dollar offering.
Benzinga Edge Rankings: According to Benzinga Edge stock rankings, SharpLink Gaming exhibits the profile of a strong momentum name that is considered overvalued. The stock boasts an exceptionally high Momentum score of 99.39, indicating significant positive price movement and strength relative to the market.
This is contrasted by a very low Value score of 0.74, which suggests that based on fundamental metrics, the stock is trading at a premium.
Price Action: According to data from Benzinga Pro, SBET shares are trading lower by 17.6% to $30 Friday afternoon. The stock has a 52-week high of $124.12 and a 52-week low of $2.26.
Read Also: $67M For More ETH: Bit Digital Expands Its Ethereum Treasury Beyond 120,000 Coins
How To Buy SBET Stock
By now you're likely curious about how to participate in the market for SharpLink Gaming – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
In the case of SharpLink Gaming, which is trading at $30 as of publishing time, $100 would buy you 3.33 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
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