Australia's Pointsbet rises most in nearly 4 years after narrower loss forecast

PointsBet Holdings

20/05/2024 02:10

** Shares of Pointsbet Holdings  PBH.AX  rise as much as
25.3% to A$0.570, their biggest intraday percentage gain since
Aug 28, 2020
    ** Stock hits its highest level since Sept 1, 2022
    ** The sports wagering platform operator sees normalized
EBITDA loss for FY24 to be in range of A$4 mln ($2.68 mln) to
A$6 mln, compared with previous forecast range of a loss of A$9
mln to A$14 mln
    ** Stock on track to post its third straight day of gains,
if trend holds
    ** About 2.1 mln shares change hands, compared with the
30-day average volume of around 853,000
    ** Stock down 6.7% YTD, based on last close

    ($1 = 1.4923 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))