Shares of Grindr Inc. will begin trading Friday, after the social network for the LGBTQ community’s merger with special purpose acquisition company (SPAC) Tiga Acquisition Corp. was completed. Grindr’s stock will start trading on the NYSE under the ticker symbol “GRND” after the opening bell, a change from Tiga’s ticker of “TINV.” Ahead of the bell, Grindr’s stock surged 11.4%. “Today marks an important milestone not only for the team at Grindr, but for the LGBTQ community we serve,” said Chief Executive George Arison. “We enter the public markets with momentum, carried by our market leadership, strong financial performance and significant growth runway as we step up investment in our core product and services.” Over the past three months leading up to the closing of the merger, Tiga’s stock has rallied 12.6% through Thursday, while shares of Match Group Inc. , which operates dating apps including Tinder, Match and OkCupid, have tumbled 27.7% and the S&P 500 has shed 7.9%.
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