Why Super Group Is Not Having a Super Day Today

·1 min read
Why Super Group Is Not Having a Super Day Today

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. The parent company of Betway, a leading online sports betting and gaming app, and Spin, a multi-brand online casino, is reportedly looking to recast its fiscal-year 2022 guidance and will update investors when it reports second-quarter results, according to Benchmark analyst Mike Hickey.

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