MER Technologies Solutions Ltd. (NASDAQ:MTSL) dropped 24%. There has been a negative sentiment in the stock from investors following the announcement that MER Technologies’ shareholders had approved all resolutions that were included in the agenda of the special shareholders’ meeting held on July 21, 2021.
Among the resolutions is the proposed business combination with SharpLink, new board directors’ appointment after the SharpLink merger, and other issues associated with the merger.
SharpLink has introduced new sports betting conversions and engagement tech that enables fantasy sports sites, sports leagues, and sports media firms to link fans to timely and relevant betting content from its sportsbook partners.
The majority of the company’s shareholders approved the resolution, with 99% of the cast votes in the meeting. The company expects consummation of the merger immediately after the waiver or fulfillment of other closing conditions, including the Nasdaq Capital market’s approval of the combined entity. So in the coming weeks, MTSL is a stock to watch.
Market Reaction:
On Thursday, MTSL stock slumped 23.81% at $3.68 with more than 4.29 million shares, compared to its average volume of 2.77 million shares. The stock had moved within a range of $3.6500 – 5.1000 after opening the trade at $4.81. Over the past 52-week, the stock has been trading within a range of $1.0100 – 8.9400.
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