SharpLink begins utilizing its share buyback program

* SharpLink (NASDAQ:SBET [https://seekingalpha.com/symbol/SBET]) on Tuesday said it has begun utilizing its share buyback program, citing confidence in its long-term strategy and belief that its stock is significantly undervalued.
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The company has repurchased approximately 939,000 shares at an average price of $15.98, and plans to continue buybacks based on market conditions, using cash on hand, staking revenue, or other financing options.

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The company holds approximately $3.6 billion of ETH with no current outstanding debt. Nearly all of which is staked, and is generating material revenue for the Company.

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The company reaffirmed that it has not used its At-the-Market (ATM) facility while trading below Net Asset Value (NAV), but may consider doing so in an accretive manner if market conditions improve.

* “Maximizing stockholder value remains our top priority as we execute on our vision of being the most trusted ETH treasury company in the market,” SharpLink Co-Chief Executive Officer, Chalom, said in a statement.
* SBET +2.93% premarket to $16.13.
* Source: Press Release [https://seekingalpha.com/pr/20225656-sharplink-begins-utilizing-its-share-buyback-program-and-reaffirms-commitment-to-long-term]

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