The Pointsbet Holdings Ltd (ASX: PBH) share price has been a winner this week, gaining 15% despite no news having been released by the company.
At the time of writing, the Pointsbet share price is $2.92, 8.77% higher than its previous close.
For context, the S&P/ASX 200 Index (ASX: XJO) has lifted 0.22% on Friday.
Let’s take a look at what might be going on with the ASX-listed bookmaker today.
What’s going on with the Pointsbet share price?
The Pointsbet share price is on a roll this week. It’s following up yesterday’s 10% gain with a 7.4% increase today.
At the same time, the company’s home sector – the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) – is in the green for the first time this week, gaining 0.98% today.
Perhaps unsurprisingly, Pointsbet is the sector’s best performer right now.
Today’s rise included, the Pointsbet share price is 35% higher than it was when the market last heard news from the company on 20 June.
Then, it announced SIG Sports Investment Corp had snapped up a $94.16 million stake in the company through a placement of shares, each issued at $2.43. At the time, that represented a 15% premium on Pointsbet’s previous close.
Additionally, as my Fool colleague James reported yesterday, Goldman Sachs and Bell Potter have slapped Pointsbet shares with respective price targets of $5.78 and $5.25.
That means the stock has been tipped to have an approximate upside of between 80% to 98%.