Small Cap Gainers: GAN, SPNE, GNOG
3:56 pm Thursday, July 08th, 2021
Gan Ltd (NASDAQ: GAN) provided upside revs guidance for Q2 and increased its full year revs guidance to $125-135 million. Co expects Q2 adj. EBITDA of $3.0-7.0 million; higher than expected revs, supported by strong performance from co’s B2C offering in Latin America and Northern Europe as well as a higher-than-expected sports betting margin, offset strategic investments in talent and technology. Two major international sporting events drove revenue acceleration in the second half of the quarter. GAN stock gained 15% to $17.42.
SeaSpine Holdings Corp (NASDAQ: SPNE) moved up 6% to $20 as the company’s 7D Percutaneous Spine Module received FDA 510(k) clearance for minimally invasive surgery, representing a new application and increased functionality for the 7D Flash Navigation System following co’s acquisition of 7D Surgical. Co is planning for a limited release of the Percutaneous Spine Module in Q3.
Golden Nugget Online Gaming Inc (NASDAQ: GNOG) surged 10.40% to $12.24. Initiated with a Buy and a $27 price target at B. Riley Securities, which views co’s trajectory and sustained iGaming market share in the mature New Jersey market as a replicable profitability roadmap for forward iGaming markets; the firm is also positive on co’s status as essentially an iGaming pure play.
