Sharplink starts $1.5B share buyback as it trades below asset value
Sharplink co-CEO Joseph Chalom says maximizing stockholder value is the “top priority” for the company as its shares fell below its net asset value fell below
Sharplink, the second-largest Ether treasury company, has started a $1.5 billion share buyback plan in an effort to boost its stock, which is trading below its net asset value.
SharpLink said on Tuesday that while the company “trades below its Net Asset Value (“NAV”), stock repurchases are immediately accretive to stockholders.”
“We believe the market currently undervalues our business,” said SharpLink co-CEO Joseph Chalom. “Rather than issue equity while trading below NAV, we are focused on disciplined capital allocation – including share repurchases – to increase stockholder value