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SharpLink Gaming and Upexi’s stock prices plunged over 60% after SEC filings allowed PIPE investors to cash in gains. The firms, which pivoted to crypto treasuries, saw their shares drop as investors quickly took profits.
- PIPE investors in SharpLink and Upexi saw gains of up to 429% before cashing out, triggering steep stock declines.
- Crypto treasury firms face volatility due to low float and investor behavior, resembling meme stocks or token unlocks.
- Grayscale warns that crypto-linked stocks can trade at premiums or discounts, unlike spot ETFs tracking underlying assets.
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