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SBET – Extraordinary General Meeting of Shareholders
January 20 @ 8:00 am - 5:00 pm
This meeting has multiple purposes but the big one is trying to get approval for a 20:1 Reverse Split of shares.
In the final months of 2022 we saw multiple instances of companies actually spiking upon the announcement of a Reverse Split (which is abnormal), and then AFTER the reverse split there is still often a point at which the price settles and sees an odd volume spike leading to a Pump (and probable dump) which is much more normal for a Reverse Split play.
In this case, with the events of November and December 2022 fresh in our mind, we have chosen to highlight this as a possible play where an “Event” trader may opt to play the actual vote. Again, in years past the more common thing to happen when a company announces a reverse split is the price falls. However, recent history has turned a lot of peoples FOMO switches on and there may be a positive reaction to the reverse split, if it as approved.