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SGHC.US
id: 1010

Super Group (SGHC) Withdrawn 2022 Guidance Case

  • In August 2022, Super Group cut its year guidance, which was already withdrawn earlier in May.
  • In May $SGHC fell 23%, losing $942M+ shareholder value, and in August $SGHC fell 12%, wiping out $343M of its market cap.
  • Investors may suspect Super Group hiding business prospects issues, which led to its losses.
On May 25, 2022, Super Group withdrew its fiscal 2022 guidance, stating that given the volatility uncertainties, the Company would provide an update with the Q2 in August.
  • Then, on August 11, 2022, Super Group announced its Q2 22 financial results and provided fiscal 2022 guidance, expecting lower revenue and adjusted EBITDA.
  • The Company attributed the reduced guidance to multiple economic and regulatory challenges, together with some further degree of post-COVID normalization.
On this news, in May $SGHC fell 23.3% and lost over $942 million of its market capitalization, seriously damaging shareholders. In August, $SGHC fell 12.2% and lost over $343 million of its market capitalization, further damaging shareholders.

Considering all the information, investors might have grounds to suspect that Super Group failed to timely disclose its business prospect issues, which led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
11 August 2022
Collecting participants…

SGHC Limited

Super Group (SGHC) Limited operates as an online sports betting and gaming operator. It offers Betway, an online sports betting brand; and Spin, a multi-brand online casino offering. The company is...

    Ticker
    SGHC.US
    ISIN
    GG00BMG42V42
    CIK
    1878057
    Sector
    Consumer Cyclical
    Industry
    Gambling
    Country
    USA
    Address
    Bordeaux Court, Saint Peter Port, Guernsey, GY1 1AR