Pointsbet Holdings (ASX: PBH) Sees Surge in Share Value, Outpacing Projections

1 min read | May 20, 2024 03:03 PM AEST | By Team Kalkine Media

Google News:

Pointsbet Holdings (ASX: PBH) Sees Surge in Share Value, Outpacing Projections — Image source: Lemonsoup14

Recent News

ATR (ASX:ATR), BBN (ASX:BBN), TEA (ASX:TEA): Why These ASX Picks Are D...

SDI (ASX:SDI): Why This Dental Company Is Leaving the ASX

ASX 200 Today: Judo Capital Slides As Healthcare Shines And Uranium St...

ASX 200: Why Is BHP (ASX:BHP) Driving Dividend Buzz?

Make Kalkine Media
My Trusted Source

Shares of PointsBet Holdings (ASX: PBH) experienced a remarkable surge, climbing as much as 11% to AU$ 0.507 on Monday’s afternoon trading session. Investors reacted positively to the company's announcement regarding its normalised EBITDA loss forecast for FY24, which is expected to be in the range of AU$4 million to AU$6 million, compared to the previous forecast range of a loss between AU$9 million to AU$14 million.

This revised outlook indicates a more optimistic financial performance than previously anticipated, instilling confidence among investors. As a result, the stock is on track to post its third consecutive day of gains, should the current trend persist. The heightened investor interest is evidenced by the substantial trading volume, with approximately 2.1 million shares changing hands, a notable increase compared to the 30-day average volume of around 853,000 shares.

Despite the recent uptrend, the stock remains down by 6.7% year-to-date, based on the last close. However, the significant intraday gain and positive outlook for FY24 underscore a potential turnaround for PointsBet Holdings. The surge in share value reflects investor optimism regarding the company's growth prospects and financial performance.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.