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Why Gan Ltd Shares Plunged 19.6% Today

TheMotleyFool

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Shares of online-gambling industry services provider Gan Ltd (NASDAQ: GAN) fell as much as 19.6% in trading on Tuesday after reporting second-quarter 2021 financial results. Shares didn't bounce much off their lows early in the day and are still down 17.3% as of 1:30 p.m. EDT.

Revenue jumped 316% to $34.6 million on the back of the Coolbet acquisition, which has been a great addition for this growth stock. Sequentially, revenue rose 24.4% and topped the $34.5 million that analysts were expecting.

Image source: Getty Images.

Source Fool.com

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