SharpLink Gaming (NASDAQ:SBET) dropped 5.7% to $21.99 on Friday, extending its three-day losing streak after announcing BlackRock veteran Joseph Chalom as co-CEO. Investors appear cautious, awaiting clarity on the company’s direction under new leadership.
Chalom, known for launching the iShares Ethereum Trust at BlackRock, brings two decades of fintech experience. Current CEO Rob Phythian will transition to president and retain his board seat.
Despite SBET’s long-term potential, investor sentiment remains mixed until strategic plans under the new leadership are revealed.