Why GAN Stock Rose as Much as 11.5% Today

Shares of GAN Limited (NASDAQ: GAN), a provider of business-to-business (B2B) and business-to-consumer (B2C) online gambling products and services, rose by more than 11% at one point during Monday trading. Although by roughly 2:45 p.m. EDT, the stock's advance had fallen to just 6.5% or so, the news driving it was still an important sign of growth.

GAN's B2B offerings help casino operators provide online betting to their customers. This is an up-and-coming business in the U.S. market as more and more states are legalizing these digital alternatives to in-person gambling. On Monday, the company announced that it had inked a deal with Soaring Eagle Casino & Resort in Michigan -- its fourth client in that state.  

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Source Fool.com