Grindr’s stock rockets as it begins trading under new ticker symbol

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Shares of Grindr Inc. GRND, +213.84% rocketed out of the gate under their new ticker Friday, after the LGBTQ social networking platform’s merger with special purpose acquisition company (SPAC) Tiga Acquisition Corp. was completed. The first trade on the New York Stock Exchange under the ticker symbol “GRND” after the 9:30 a.m. Eastern open was at $17.00, according to FactSet time-and-sales data, which was 46.2% above Thursday’s closing price of $11.63 under the symbol “TIVN.” (The stock had traded on other platforms before the first trade on the NYSE.) The stock continued to climb since the open, and was up as much as 147.6% intraday before being halted up 116.7% at $25.20 at 10:16 a.m. Eastern for volatility. The stock has already been halted five times for volatility as of the latest halt.

This article was originally published by Marketwatch.com. Read the original article here.

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