The house always wins, at least when it comes to gaming. For companies engaging in online gaming, Gambling.com (NASDAQ:GAMB) is a company that’s piqued investor interest as of late. Indeed, the Gambling.com initial public offering (IPO) is one investors have been watching closely today.
Today, Gambling.com officially went public via its highly anticipated IPO. Shares opened at the previously announced $8 level. However, today, shares have traded lower, after spiking to an intra-day high of $8.75 per share.
This share price move is interesting, given the reduction in pricing of the GAMB IPO. The company’s initial pricing range for the IPO was $11 to $13. Yesterday, the company revised this range to between $8 and $9.
This sort of IPO pricing isn’t uncommon. Many companies price their IPOs at the lower end of the range to provide more opportunity for a broader array of investors to get in. However, this move signals weak demand for shares by market makers. Additionally, given the rather weak performance of other IPOs recently, investors appear to be on edge with this one today.
That said, there’s a lot to unpack with this company. Let’s dive into a few things investors may want to know about its upcoming IPO.
What to Know About the Gambling.com IPO
- UK-based Gambling.com is a performance marketing company.
- The company provides a range of digital marketing services to the online gambling sector.
- Gambling.com has more than 200 customers as of last year, up from 131 in 2017.
- The company reported earnings of $4.5 million on sales of $11.5 million for the most recent quarter.
- Given the rise of online sports-betting, Gambling.com is a company whose services are being looked at closely by investors.
- The company raised $42 million via its offering of 5.3 million shares. This is down from $68 million with the previous range.
- Shares trade on the Nasdaq under the ticker ‘GAMB.’
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
