Shares of Esports Technologies Inc. /zigman2/quotes/226082549/composite EBET +0.60% blasted out of the gate Thursday, and kept rising in volatile trading, as the Las Vegas-based online gambling company's stock opened at more than triple the initial public offering price. The stock's first trade was $21.00 at 10:09 a.m. Eastern for 126,245 shares, while the upsized IPO priced overnight at $6.00 a share. The stock has extended gains since its opening, to trade 328.2% above its IPO price at $25.69, enough to pace all Nasdaq gainers. The stock has already been halted for volatility seven times since it opened. The pricing was at the top of the expected range of between $5.00 and $6.00 a share, which was recently raised from between $4.50 and $5.00 a share, and valued the company at $79.9 million. The company sold 2.4 million shares in the IPO, up from previous expectations of 2.0 million shares, to raise $14.4 million. Boustead Securities was the sole underwriter of the IPO. The company had recorded a net loss of $573,225 on revenue of $195,778 the fiscal year ended Sept. 30, 2020, after net income of $24,103 on revenue of $140,982 in the year-ago period. The company went public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -1.33% has slipped 4.0% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.18% has gained 10.7%.