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Why Gan Limited's Stock Is Down Almost 10% This Week

·2 min read
Why Gan Limited's Stock Is Down Almost 10% This Week
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  • GAN

Shares of online gambling services provider Gan Limited (NASDAQ: GAN) dropped 9.4% this week through Thursday's close. Gan reported its second-quarter results after the U.S. markets closed on Monday, and the bottom line wasn't quite what Wall Street had expected. While Gan's second-quarter revenue of $34.6 million was slightly ahead of estimates, its net loss -- $2.7 million, or $0.07 per share -- was considerably wider than the average $0.01 per-share loss that analysts polled by Thomson Reuters were expecting.