Lottery.com regains Nasdaq compliance, SharpLink approved for stock option trading
The lottery courier service met all requirements by maintaining a closing bid price of $1.00 or higher for 20 consecutive business days from May 21 – June 18.
Key Points
- Trading in SharpLink’s options officially commenced on June 18 under the ticker symbol SBET, having also included a range of standard expiration dates and strike prices
- The listing of options is expected to “expand investor access” and could improve liquidity in SharpLink’s shares, providing investors with “added flexibility” to manage risk
Lottery.com has officially regained Nasdaq compliance under listing rule 5450, while SharpLink Gaming’s common stock was approved for trading on the Nasdaq Options Market, officially commencing on June 18 under the ticker symbol SBET.
“We view this approval as a significant achievement that underscores our evolving profile as a trusted Nasdaq-listed company,” SharpLink CEO Rob Phythian said.
“Moreover, we believe the commencement of options trading will enhance our visibility within the investment community, at large, and provide our shareholders with additional tools for managing their investments.”
SharpLink’s options also included a range of standard expiration dates and strike prices, believed to “expand investor access” and improve liquidity in the company’s shares.
The trading provides investors with “added flexibility” to manage risk, leverage positions and express views on future stock performance.
Lottery.com met all requirements under listing rule 5450 by maintaining a closing bid price of $1.00 or higher for 20 consecutive business days from May 21 – June 18.
Good to know: Lottery.com launched an investigation into potential short selling activities in its stock on June 3, believing there may have been “dissemination of false information” relating to the company
“This isn’t just a moment of compliance—this is a true turning point. The level of engagement from the markets over the last 20 days, combined with our recent momentum, demonstrates that our turnaround is real, visible and gaining traction,” Lottery.com Chairman, CEO and President Matthew McGahan said.
“We are entering our next chapter with a key compliance determination from Nasdaq, a reinforced leadership team and a Company that is starting to fire on all cylinders. Our investors have seen the difference—and the volume speaks for itself.”
The lottery courier service recently appointed Tamer Hassan as President of Sports.com Studios to help strengthen its media and entertainment vertical.
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