Why This Dating App Stock Is Popping Off Over 300% Today

Why This Dating App Stock Is Popping Off Over 300% Today

Grindr GRND shares are trading higher by 321% to $47.49 Friday after the stock began trading following the completion of its combination with Tiga Acquisition Corp.

Per data from AlphaRank, TINV shareholders approved the deal with some 27.1 million shares redeemed (98.2% of shares), remaining a mere 0.5 million shares, closing November 18.

What Else?

Our Benzinga team reported in May that Grindr had announced a SPAC merger with Tiga Acquisition Corp. The deal values the company at an enterprise value of $2.1 billion.

Growth Ahead: Grindr sees its total addressable market growing both in size of users and monetization opportunities.

The population of LGBTQ+ was 558 million in 2021 and is expected to grow at a compounded annual growth rate of 5.4%, according to the company’s presentation...Read More About The Deal

According to data from Benzinga Pro, GRND has a 52-week high of $71.51 and a 52-week low of $8.23.

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