Shares of Esports Technologies Inc. EBET,
rose 36.5% in premarket trading on Friday, adding to the 6-fold gain from the previous session as investors continued to cheer on the public debut of the online gambling company in Las Vegas. On Thursday morning, the first share transaction was $ 21.00, or 250% above the initial public offering price of $ 6.00 per share, and continued to rise in volatile trading to $ 36.42. At that closing price, Esports’ market capitalization was approximately USD 460.7 million, compared to the market cap of USD 75.9 million at the IPO price. Based on premarket trading on Friday, the company is about to open with a market cap of over $ 600 million. The frenzy for Esports shares came on a day when Applovin Corp. shares. APP,
with a valuation of $ 28.6 billion at the IPO price, closed at 18.5% below the IPO price and TuSimple Holdings Inc. TSP,
valued at $ 8.5 billion at its IPO price, closed even at its IPO price. The famous IPO IPO
rose 1.3% on Thursday, while the S&P 500 SPX
gained 1.1%.