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Ethzilla Stock Tanks 15% After DAT Dumps a Quarter of its ETH Stash


Ethzilla Stock Tanks 15% After DAT Dumps a Quarter of its ETH Stash

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Ethzilla stock (ETHZ) dropped 15% after selling $74.5 million in Ethereum to pay debts. The stock fell from over $6 to an intraday low of $5.12, marking a 21% loss since Monday and a 95% decline since its peak of over $100 in August.

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Ethzilla stock (ETHZ) tanked 15% on Tuesday following the company’s decision to sell $74.5 million worth of Ethereum to repay debts.

Shares slid from just over $6 to an intraday low of $5.12. They were hovering around $5.35 during after-hours trading, according to Google Finance. Ethzilla has lost 21% in share value since the opening of the Nasdaq on Monday morning and is down 95% since it spiked over $100 in August.

Read the article at CryptoPotato

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In This News

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