Shares of Esports Technologies Inc. EBET,
rose 36.5% in trading on the market on Friday, increasing its six-fold gain in the previous session as investors announced the public debut of the online gambling business in Las Vegas. The stock’s first trade on Thursday morning was $ 21.00, or 250% higher than the $ 6.00 per share’s initial public offering price, and it continued to fluctuate in volatile trading to $ 36.42. At the closing price, the Esports’ market capitalization was approximately $ 460.7 million, compared to the market capitalization of $ 75.9 million at the IPO price. Based on Friday’s trading of the market, the company is on track to start with a market capitalization of more than $ 600 million. The madness for Esports shares took place on a day when shares of Applovin Corp. APP,
with a valuation of $ 28.6 billion at the IPO price, closed 18.5% below the IPO price, and TuSimple Holdings Inc. TSP,
worth $ 8.5 billion at its IPO price, right closed at its IPO price. The Renaissance IPO ETF IPO,
rose 1.3% on Thursday while the S&P 500 SPX,
1.1% achieved.
