Brag House Holdings (TBH) Plunges 48.33% as Merger with House of Doge Sparks Selloff

Brag House Holdings (TBH) shares plunged 48.33% on Monday, hitting a seven-month low as intraday losses surged to 65.83%. The selloff reflects investor unease following the company’s high-stakes merger with House of Doge, a cryptocurrency-focused entity tied to Dogecoin, and ongoing uncertainties about its strategic direction.

The merger, approved by both boards, aims to create a digital asset platform leveraging Dogecoin’s mainstream appeal among Gen Z. However, the transition has sparked skepticism. Marco Margiotta, CEO of House of Doge, will lead the combined entity, while Brag House’s CEO steps down to a board role. The shift underscores a pivot toward crypto expertise but raises questions about continuity in Brag House’s core media and sports ventures.

Financially, the company has bolstered its balance sheet through a $15 million private placement in August and regained compliance with Nasdaq listing requirements. These moves aim to fund expansion into digital assets and partnerships, including a revenue-generating NIL platform targeting college athletes and collaborations with media entities focused on Gen Z audiences. Despite these efforts, the stock’s sharp decline highlights concerns over the speculative nature of Dogecoin-related bets and integration risks.

Recent governance updates, including the appointment of legal expert Scott Woller to the board, signal a focus on regulatory navigation. Yet, the company faces headwinds from regulatory scrutiny of crypto markets and competition in digital media. Investors remain wary of execution risks as the merger’s 2026 timeline approaches, balancing long-term growth potential against near-term volatility.