Why GAN Limited's Shares Plunged 20.5% Today
Shares of GAN Limited (NASDAQ: GAN) fell as much as 20.5% in trading Friday after reporting second-quarter 2020 results. Shares pared some of those losses as the day wore on and were down 16.9% at 2:00 p.m. EDT, which was still a big loss for the day.
Second-quarter revenue jumped 99% to $8.3 million as U.S. operations more than doubled. But net loss was $8.8 million, up from a $1.9 million loss a year ago, and the $0.33 loss per share was well above the one-cent loss that analysts expected.
Image source: Getty Images.
Source Fool.com
