Shares of Enhanced Group (ENHA), the company behind the Peter Thiel-backed Enhanced Games, fell by half on Tuesday after six hours in Las Vegas for the first time to issue a single unofficial record worldwide.
The startup was valued this month at $1.2 billion and has now lost hundreds of millions in market value over the past three weeks.
Vegas Debut Gives One Record
Extra Sports held a one-night tournament on May 24 at Resorts World Las Vegas, paying a purse of $25 million.
About 42 athletes competed, with company monitoring data showing 91% using testosterone, 79% using human growth hormone, and 62% using stimulants like Adderall & modafinil before the event.
“Peter Thiel and Donald Trump Jr. spent millions to make the Olympics steroid. They promised to “redefine the limits of humanity” and put $25M in prize money… another researcher he wrote.
Only one unofficial world record has fallen. Greek swimmer Kristian Gkolomeev clocked 20.81 seconds in the men’s 50-meter freestyle, beating Cameron McEvoy’s 20.88 seconds and earning a $1 million bonus.
Sprinter Fred Kerley, who predicted that Usain Bolt’s 9.58-second 100-meter time would be “destroyed,” won in 9.97 seconds, a time he would not have reached the final at the Paris Olympics.
Clean athletes, including Olympic gold medalist Hunter Armstrong, performed three events directly.
Silicon Valley Lost to Biology
After closing at $5.36 on Friday, ENHA opened close to $2.67 on Tuesday, a nearly 50% intraday slide that wiped nearly $800 million off its market value.
The market cap has fallen from $981 million on May 7 to about $655 million.
Follow us on Xto hear the latest news as it happens
The installation also features another recent display of support. A week earlier, Image AI held a 10-hour “Man vs. Machine” competition beat the intern person F.03 humanoid robot 12,924 packages to 12,732.
When just one piece of evidence is missed, the equity issue tends to spread in hours, not quarters.
And backers like Tech investor Peter Thiel quick history to change standing betsENHA’s path to the second event now depends on public patience.
A note Peter Thiel-Backed Stock Falls 50% After ‘Superhuman Sports’ Dream Ends appeared for the first time BeInCrypto.
