$Meridian Hldg(MRDN)$ just released a good Q2 earnings report, reaching GAAP net income profitability of $2.2M, the second strong profit quarter in a row. Despite this, the stock tanked 22%. In my opinion, here are the factors driving this harsh reaction: - Slight revenue miss of $50M vs $51-53M guide. - Gross margin decline from 56.4% to 53.5%. - New CEO and CFO - H2 2026 guide of 8-10% revenue growth, barely in line with the analyst consensus estimate of 9.6%. The miss was tiny. While the gross margin decline and the earnings miss can mostly be explained by $1.2M in large casino win this quarter. The house always wins, and gamers won't be lucky for long, this will reverse. Congratulations to Zoran Milošević as the new CEO of Meridian Holdings Z