SharpLink Gaming Inc. (SBET) Stock Drops 9.59% Amid Trade Tensions
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 7h ago
0mins
Source: Yahoo Finance
- Stock Decline: SharpLink Gaming Inc. (NASDAQ:SBET) saw its stock price drop by 9.59% to $9.94 on Tuesday, reflecting investor sentiment as they sought to mitigate risks amid escalating US-EU trade tensions, indicating broader market concerns.
- Tariff Threats: President Trump has threatened to impose a 10% tariff on goods from eight countries, with potential increases to 25% if no deal is reached by June 1, which could further exacerbate market anxiety and impact investor confidence.
- Market Reaction: Global markets have been rattled by tariff threats, leading to volatility in cryptocurrency trading, including Bitcoin and Ethereum, as investors adopt a wait-and-see approach for further policy developments.
- Executive Changes: Last month, SharpLink Gaming appointed Joseph Chalom as its sole CEO following the resignation of co-CEO Rob Phythian, a leadership change that may influence the company's strategic direction and market performance.
Analyst Views on SBET
Wall Street analysts forecast SBET stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SBET is 25.60 USD with a low forecast of 15.00 USD and a high forecast of 50.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
5 Buy
0 Hold
0 Sell
Strong Buy
Current: 9.945
Low
15.00
Averages
25.60
High
50.00
Current: 9.945
Low
15.00
Averages
25.60
High
50.00
About SBET
SharpLink Gaming, Inc. is an online performance-based marketing company serving the United States (U.S.) sports betting and global iGaming industries. The Company is a marketing partner to sportsbooks and online casino gaming operators worldwide. It operates through the Affiliate Marketing Services segment. Through its iGaming affiliate marketing network, known as PAS.net, it focuses on driving qualified traffic and player acquisitions, retention and conversions to U.S. regulated and global iGaming operator partners worldwide. It also owns and operates a portfolio of direct-to-player, state-specific, affiliate marketing Websites designed to attract, acquire and drive local sports betting and online casino gaming traffic to its valued partners, which are licensed to operate in each respective state. It is licensed to operate in about 18 jurisdictions and owns and operates direct-to-player (D2P) sites serving 17 U.S. states. It has developed a treasury strategy centered on ETH.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
