Why GAN Stock Fell as Much as 16% on Tuesday

The shares of online-gambling software provider GAN (NASDAQ: GAN) were down as much as 16% early Tuesday. By around 2:50 p.m. EDT today, the stock was still down 10%. Although that's a sizable loss for a single day, it comes after a series of large gains for the relatively small company, including an 18% advance on Monday. 

Big moves can be both exhilarating and frightening, but the backdrop here is important. GAN first listed on the Nasdaq exchange on May 5, meaning that it's been trading for less than a month. To be fair, it was a publicly traded company in the U.K. prior to that, but it is basically a newly listed U.S. company. In the short period it has been trading on Wall Street, the stock has taken off like a rocket, peaking around an 80% gain on Monday.   

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Source Fool.com