Why Gambling.com's Stock Is Getting Crushed Today
Portfolio Pulse from Aaron Bry
Gambling.com Group's (NASDAQ:GAMB) stock plummeted over 20% after its Q3 earnings report, despite a 19% revenue increase to $23.5 million and surpassing expectations. The company saw robust organic growth in North America and a 26% increase in new depositing customers. The launch of Casinos.com and expansion into Kentucky were also noted. Analysts remain bullish with a consensus Buy rating, but the stock drop suggests investor concerns. Shares are still up 15% YTD.
November 16, 2023 | 7:55 pm
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NEGATIVE IMPACT
Gambling.com Group's stock experienced a significant drop after its Q3 earnings report, despite positive growth indicators and analyst support.
The sharp decline in GAMB's stock price following the earnings report, despite positive growth and analyst support, indicates a negative short-term impact. The market may have had higher expectations or there could be other concerns not addressed by the earnings report.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100