Esports Technologies (EBET) Stock Reverses After Monster Debut Rally

Last Friday, the Esports Technologies (NASDAQ: EBET) stock emerged as one of the major gainers after it soared sharply following its IPO on April 15. Experts suggest that the interest in the stock was primarily driven by the fact that the company runs an online gambling platform.

Esports Technologies (EBET) Stock Reverses After Monster Debut Rally

However, things have changed quite dramatically this morning. After having hit a high of $54 a share on Friday, the stock has lost around 65%. This morning the stock has gone down by 26% already and trading at $18.80 a share.

Related:  Fantastic Four Fan Theory Claims The Movie To Bring New Villains and Have Answers To Avengers: Endgame Mysteries. Dr . Doom Opposes Dr. Strange?

In this regard, it should be noted that the company is primarily involved in online betting related to competitive gaming and esports. In addition to that, it is interesting that Esports Technologies even raised the size of its IPO before its debut on April 15. After the expansion of the size of the IPO, the company offered 2.4 million with the hope of raising $14.4 million.

Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.