Business
Leading broker tips PointsBet (ASX:PBH) share price to shoot higher
The PointsBet Holdings Ltd (ASX: PBH) share price was on form last week.
The sports betting company’s shares rose 5.5% over the five days.
This latest gain means the PointsBet share price is up 15% year to date and 255% over the last 12 months.
Why did the PointsBet share price charge higher last week?
Investors were buying the company’s shares following the release of a strong third quarter update.
For the three months ended 31 March, the company reported a 236% increase in turnover to $905.2 million.
This was driven by strong growth across both the Australian and United States markets.
In Australia, turnover increased 137% jump to $423.2 million, whereas in the United States, it reported a 431% increase in turnover to $482…
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