Shares of Super Group (NYSE: SGHC) are plunging 18% at 11:29 a.m. ET on Wednesday after the sports betting and casino app reported first-quarter results that missed Wall Street expectations on the top and bottom line.
Super Group went public earlier this year , merging with the special purpose acquisition company ( SPAC ) Sports Entertainment Acquisition on Jan. 27. It opened for trading the next day at $8.60 per share and made it as high as $11.09 per share last month, but has bounced around and is currently going for $6.66 per share, 40% below those highs.
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For further details see:
Why Super Group Is Not Having a Super Day Today