24/7 Market News Snapshot 14 November, 2024 – Gambling.com Group Limited Ordinary Shares (NASDAQ:GAMB)

November 14, 2024

DENVER, Colo., 14 November, 2024 (247marketnews.com) – (Nasdaq:GAMB) are discussed in this article.
Gambling.com Group Limited (Nasdaq:GAMB) opened trading today at $13.00 but has experienced a notable decline, currently trading at $12.249, reflecting a substantial drop of approximately 18.81%. This volatility follows a prior closing price of $10.310, highlighting increased market fluctuations. Trading volume has reached 977.96K, indicating significant investor engagement. Analysts observe that the stock may encounter resistance near the $13.00 threshold, while potential support is anticipated around the $10.30 range. Given the sharp price decrease, this may represent a buying opportunity for investors seeking potential recovery.

In contrast, the company has reported strong financial results for the third quarter of 2024, with revenues soaring to approximately $32.1 million, marking a robust 37% increase compared to the previous year. This surge in revenue has translated into an impressive 108% rise in Adjusted EBITDA, reaching a record $12.6 million and reflecting a 39% margin. Charles Gillespie, the Chief Executive Officer and Co-Founder, credited this success to the company’s exceptional execution within the affiliate sector, reinforcing Gambling.com Group’s position as an industry leader in maximizing value for both shareholders and clients.

The company also brought in over 116,000 new depositing customers during the quarter, underscoring its strong service offerings. CFO Elias Mark highlighted the importance of the company’s strategic initiatives in enhancing returns across its diverse portfolio. With anticipated substantial growth in North America and across other markets, Gambling.com Group has revised its 2024 revenue forecast, targeting between $125 million and $127 million, with Adjusted EBITDA projected between $46.5 million and $48.5 million. The company has also engaged in stock repurchases and received accolades at the 2024 EGR Operator Awards, indicating a favorable outlook for future growth in the online gaming industry.

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