Super Group Limited
|Company Name||Super Group Limited|
On May 25, 2022, Super Group withdrew its fiscal 2022 guidance, which it had provided the prior month, stating that “[g]iven the volatility we’ve seen and known uncertainties, we’re working on a reforecast for 2022 and should be able to provide an update about our expectations when we release second quarter results in August.”
On this news, Super Group’s stock fell $1.89, or 23.3%, to close at $6.23 per share on May 25, 2022, thereby injuring investors.
Then, on August 11, 2022, Super Group announced its second quarter 2022 financial results and provided fiscal 2022 guidance, expecting revenue “between €1.15 billion and €1.28 billion” and adjusted EBITDA “between €200 million and €250 million.” The Company attributed the reduced guidance to “ongoing pressures from multiple economic and regulatory headwinds, together with some further degree of post-COVID normalization.”
On this news, Super Group’s stock fell $0.69, or 12.2%, to close at $4.97 per share on August 11, 2022, thereby injuring investors further.
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