Anghami Inc. ANGH experienced a surge of 65.65% in the after-hours trading session on Friday.
Check out the current price of ANGH stock here.
What Happened: The stock of the music streaming platform, Anghami, witnessed an increase in value, reaching $0.77 per share. Earlier, the stock had closed at $0.47 per share, marking a 0.13% dip for the day. This surge in value occurred after the regular trading hours, indicating a strong investor interest in the company.
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On July 23, the company appointed James Cooke, a senior executive from Warner Bros WBD, to its Board of Directors—bringing industry expertise and potentially strengthening strategic ties. Additionally, to boost compliance and potentially enhance investor appeal, Anghami shareholders also approved a 1-for-10 reverse stock split.
Why It Matters: This sudden increase in stock value comes after a series of significant events. The addition of Cooke and the company securing a $23 million unsecured convertible note from OSN Streaming Limited, to boost capital flexibility for growth, kept the investors’ confidence high.
Price Action: According to Benzinga Pro data, Anghami jumped 65.65% after hours on Friday, rising by $0.31.
Benzinga’s Edge Stock Rankings highlight ANGH stock has a positive price trend across all time frames. Track the performance of other players in this segment.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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