Super Group (SGHC) Soars to New High, Then Loses Momentum

We recently published 10 Stocks Losing Big Amid Market Boom. Super Group (SGHC) Ltd. (NYSE:SGHC) is one of the worst performers on Thursday.

Super Group soared to a new all-time high on Thursday after raising its growth forecast, but failed to sustain momentum after finishing the day in the negative territory.

During the session, Super Group (SGHC) Ltd. (NYSE:SGHC) jumped to an all-time high of $13.71 before giving up all gains to close the day down by 8.89 percent at $11.69 apiece.

The drop was primarily attributed to early profit-taking as investors took advantage of the intra-day high.

Earlier this week, Super Group (SGHC) Ltd. (NYSE:SGHC) raised its full-year growth outlook as the company hinted at an exceptional third quarter performance.

For the full-year period, Super Group (SGHC) Ltd. (NYSE:SGHC) raised its revenue growth outlook to a range of $2.125 billion to $2.2 billion, versus the $2.04 billion expected previously.

Adjusted EBITDA was also pegged at $550 million to $560 million, as compared with the $470 million to $480 million targeted previously.

“Our performance through the third quarter continues to demonstrate the resilience of our model and the strength of our execution. We’re seeing strong contributions from both sports and casino, deeper customer engagement, and continued margin improvement across key markets. As a result, we’re pleased to raise our full-year outlook and remain confident in our ability to deliver for our shareholders,” said CEO Neal Menashe.

While we acknowledge the potential of SGHC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.