[ad_1] <br><div><p>(Bloomberg) -- Grindr LLC, the relationship app that makes a speciality of connections for the LGBTQ+ neighborhood, turned the most recent inventory to see an eye-popping surge after finishing a SPAC tie-up as merchants flip shares of the low-float firm.</p><p>Most Learn from Bloomberg</p><p>Shares of the corporate, which went public by merging with Tiga Acquistion Corp., spiked 214% from the value that Tiga closed at on Thursday. The rally got here after roughly 98% of buyers opted to redeem their stake after they voted to approve the deal, which means lower than 500,000 shares remained excellent.</p><p>The a lot smaller pool of shares accessible to commerce can drive massive swings for the inventory, one thing that has grow to be more and more widespread for former SPACs. Grindr’s raucous debut triggered at the very least 17 buying and selling halts for volatility as practically 2.7 million shares modified palms.</p><p>(Updates share motion all through.)</p><p>Most Learn from Bloomberg Businessweek</p><p>©2022 Bloomberg L.P.</p></div> <br>[ad_2] <br><a href="https://news.google.com/__i/rss/rd/articles/CBMiTmh0dHBzOi8vZmluYW5jZS55YWhvby5jb20vbmV3cy9ncmluZHJzLXN0b2NrLW1vcmUtZG91Ymxlcy1kZWJ1dC0xNTMxNTYzNjQuaHRtbNIBVmh0dHBzOi8vZmluYW5jZS55YWhvby5jb20vYW1waHRtbC9uZXdzL2dyaW5kcnMtc3RvY2stbW9yZS1kb3VibGVzLWRlYnV0LTE1MzE1NjM2NC5odG1s?oc=5">Source link </a>