10 Best Stocks Under $10 Offering More Than 50% Upside

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6. Sharplink Inc. (NASDAQ:SBET)

Sharplink Inc. (NASDAQ:SBET) is one of the 10 best stocks under $10 offering more than 50% upside.

On June 22, Sharplink Inc. (NASDAQ:SBET) finalized a securities purchase agreement with an institutional buyer. The agreement will involve the buying and selling of more than 10 million SharpLink common shares, each with a par value of $0.0001. The arrangement also includes warrants to buy the above-mentioned shares at a purchase price of $7.49.

This price translates into a 41% premium to the stock’s closing price of $5.29 on June 18. It also surpasses the net asset value of the company’s ETH portfolio, valued at 875,776 ETH as of June 16. The Warrants are directly exercisable upon issuance, have an exercise price of $8.15 per share, and have an expiry of 4 years following the issuance.

Subject to usual restrictions, the registered direct offering was scheduled to close on or near June 23, with projected gross proceeds of $75 million excluding related fees and expenses. The capital will be deployed to finance the company’s working capital needs, general corporate expenses, future ETH acquisitions, and share buybacks under the company’s current stock repurchase program.

Sharplink Inc. (NASDAQ:SBET) focuses on the digital asset treasury business and operates as an institutional-grade Ethereum treasury platform. The company offers performance-based customer acquisition services for sportsbook and online casino gaming operators. It also drives user traffic and player acquisition for licensed gaming operators through PAS.net and a portfolio of U.S. state-specific digital properties.

While we acknowledge the potential of SBET to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SBET and that has 100x upside potential, check out our report about the cheapest AI stock.

Click to continue reading and see the 5 Best Stocks Under $10 Offering More Than 50% Upside.

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