TechFlow news, September 9 — SharpLink Gaming disclosed today that it has commenced its $1.5 billion share repurchase program and has so far repurchased approximately 1 million SBET shares. SharpLink Gaming stated that the company believes its stock is severely undervalued, and repurchasing shares at a price below 1x net asset value will generate immediate accretive effects and drive compounded growth in long-term shareholder value.
SharpLink Gaming emphasized that its balance sheet holds $3.6 billion in Ethereum (ETH), nearly 100% of which has been staked to generate income for the company. Additionally, the company currently has no debt and has never issued shares at a valuation below 1x net asset value.
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