eToro has already listed the new Grindr stock ticker (NYSE: GRND), which was unveiled after Grindr merged with blank-check company Tiga Acquisition last Friday.
Under its new ticker GRND, the Grindr began trading on the New York Stock Exchange (NYSE) at $16.90 per share on Friday and surged to a high of $71.51 shortly after. At the close of the market that day, the share value had more than doubled. The LGBTQ social platform also hosted a drag show outside of the NYSE after the merger to celebrate what the company sees as an indicator of the acceptance of LGBTQ in society and financial services.
Although the price of the GRND stock has since dropped to about $10, Grindr’s public-market debut after the merger with Tiga Acquisition is such an achievement for the LGBTQ community and eToro has joined the bandwagon by listing the new ticker to allow eToro traders to trade the Grindr stock.
What is Grindr?
Grindr is a location-based social networking and online dating application targeted towards members of the LGBTQ (lesbian, gay, bi, trans, and queer) community. It is headquartered in West Hollywood, California, US and was one of the first geosocial apps for gay men when it launched in March 2009.
It has since become the largest and most popular free dating mobile app serving the LGBTQ community in the world.
Grindr’s CEO, George Arison, was quick to cite the post-SPAC debut as a reflection of the broader inclusion of LGBTQ people within the society and finance about seven years since the U.S. Supreme Court ruled that the Constitution guarantees same-sex marriage rights. On CNBC’s “Squawk on the Street,” Arison said:
“It’s a pretty incredible thing that the company whose primary user base is gay and bisexual men, built by and for the LGBTQ population, with an employee base that is heavy in that cohort of the population as well, is now going public. It’s not something that would not have happened 20 years ago, probably wouldn’t have happened even 10 years ago.”
Trading Grindr stock on eToro
eToro is one of the first brokers to list the new Grindr stock ticker after its public trading debut on the NYSE. This means that eToro users can add the GRND stock to their stock portfolio.
If you are interested in trading the Grindr stock, you can head to eToro to get started.
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