Why GAN Limited's Shares Jumped 10.3% on Monday

Shares of GAN Limited (NASDAQ: GAN) jumped as much as 10.3% in trading Monday after an analyst released a positive note about the company. Shares were still up by 9.1% as of 2:52 p.m. EDT. 

Analyst Josh Nichols at B. Riley FBR reiterated a buy rating for GAN Limited stock and a $28.50 price target for shares. He said a positive second quarter for DraftKings (NASDAQ: DKNG) was a bullish sign for GAN Limited, which could be a software provider for others looking to move into the online gambling space. 

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Source Fool.com