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The BetMakers (ASX:BET) share price has slumped 13% in a month. What’s going on?

If a share price falls on the market, and there are no announcements, what do investors think?
The post The BetMakers (ASX:BET) share price has slumped 13% in a month. What’s going on? appeared first on The Motley Fool Australia. –

The BetMakers Technology Group Ltd (ASX: BET) share price has fallen into a slump recently.

While there hasn’t been any price-sensitive announcement during this time, the wagering technology provider’s shares have tumbled 13% in the last month. For comparison, the S&P/ASX 200 Index (ASX: XJO) slipped a minor 0.4% during that time.

This leaves the market wondering what is going on with the $930 million ASX-listed company.

Anyone home?

After a flurry of announcements throughout much of the year, BetMakers has been in a state of radio silence since the end of August. At that time, the company revealed its annual report for FY21 whereby revenues were shown to have more than doubled over the prior year.

Shortly after that, BetMakers was added to the S&P/ASX 300 Index (ASX: XKO) on a quarterly rebalance. The inclusion came amid the company reaching a presence across more than 30 countries with more than 45 regulatory licenses.

Despite these positives, momentum appears to have shifted since 8 September 2021. Since this date, the BetMakers share price has crumbled 21%. Coincidentally, this trend began 5 days after the company’s last price-sensitive announcement.

It can be concerning for shareholders when communication becomes rare from the management team. Especially when it had previously been frequent.

At present, there have only been two notable announcements since the last price-sensitive release. These include a notice of options being exercised and a notice for the company’s annual general meeting (AGM).

Firstly, 859,322 fully paid ordinary shares were issued on 8 October upon the exercise of 862,500 unlisted options. These were related to the company’s long-term incentive plan. Secondly, the AGM will be held on Monday 22 November 2021 at 11am AEDT.

Other than these details, there has been little in the way of developments shared by BetMakers recently.

BetMakers share price snapshot

While the recent BetMakers share price performance might be underwhelming, the last year has been rewarding for shareholders. Riding the excitement of multiple acquisitions, the wagering company surged in value.

In the past year, the BetMakers share price is up 132%. Meanwhile, the benchmark index isn’t even close with a return of 19.3%.

The post The BetMakers (ASX:BET) share price has slumped 13% in a month. What’s going on? appeared first on The Motley Fool Australia.

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More reading

The BetMakers (ASX:BET) share price has fallen 6% this month

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Betmakers Technology Group Ltd. The Motley Fool Australia has recommended Betmakers Technology Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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