EBET, Inc. (NASDAQ:EBET) shares are rocketing higher Wednesday despite a lack of company news. Here’s a look at what’s going on.
What To Know:
EBET shares are moving higher on very heavy trading volume. According to Benzinga Pro, more than 461 million shares have been traded in the session, compared to the stock’s 100-day average of 27.137 million shares.
On July 26, EBET announced that the company would begin to explore strategic alternatives including a potential merger, sale or other transactions.
Aaron Speach, CEO of EBET, commented “After a detailed evaluation we have determined to launch a formal review of our strategic options to determine which alternative or alternatives are the best path to maximize value. The EBET team remains fully committed to meeting the needs of our customers in continuing to provide them with an exceptional gaming experience”.
EBET, Inc. operates a licensed online gambling platform, offering real-money betting on esports events from around the world in a secure environment. It accepts wagers on esports titles including Counter-Strike: GO, League of Legends, Rocket League and FIFA. EBET also accepts wagers on professional sports including the NFL, NBA, MLB and soccer.
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EBET Price Action: According to Benzinga Pro, EBET shares are up by over 100% at 8 cents at the time of publication.
Image: PIRO4D from Pixabay
