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Tag: ANGH Stock

  • What Is Propelling A Notable Rise In Anghami (ANGH) Stock Today?

    What Is Propelling A Notable Rise In Anghami (ANGH) Stock Today?

    Anghami Inc. (NASDAQ: ANGH) stock value has increased significantly during the current US trading session. The most recent check shows that the company’s value has increased by 28.91% to $2.05. The company’s recent strategic alliance is likely be the catalyst behind this upsurge.

    Anghami (ANGH) recently announced an expansion of its strategic collaboration with Rotana Music, the leading independent record label in the Arab world and the primary proprietor of Arabic music’s extensive repertoire, events, entertainment, media, and content production and distribution across the MENA and GCC regions. ANGH entered into this partnership to facilitate diverse content and concert collaborations.

    In addition to building on their initial alliance, this renewed agreement marks an important milestone for the two entities. The commitment laid out in this agreement sets the stage for a wider array of releases and collaborations spanning various content categories over the forthcoming three years.

    The reaffirmation and expansion of its partnership with Rotana underscore Anghami’s steadfast commitment to providing users with enriched content and experiences. This three-year commitment underscores ANGH’s shared vision of continuously enhancing the Arabic music landscape and creating unique opportunities for both artists and fans.

    Executed in early February 2024, this agreement transcends conventional licensing arrangements. Apart from granting Anghami access to Rotana’s extensive catalog of Arabic music, the partnership will entail joint endeavors such as live concerts and artist collaborations, all available on the Anghami platform.

    Rotana has long been a trailblazer in catering to and delighting Saudi, Gulf, and Arab audiences, fostering a relationship of trust and appreciation over the years. The collaboration with Anghami, which has yielded positive outcomes, aims to further strengthen the bond between Rotana and its artists while staying abreast of market dynamics, expanding the realms of creativity and innovation in the music and entertainment industry.

    The expanded partnership between Anghami and Rotana will redefine the music landscape in the Arab world, offering fans in the MENA region an unparalleled variety of content.

  • Anghami (ANGH) Stock Is Rocketing After A Merger News

    Anghami (ANGH) Stock Is Rocketing After A Merger News

    Anghami Inc. (NASDAQ: ANGH) is currently experiencing a notable ascent in today’s trading session, reflecting a remarkable surge of 54.11%, bringing its stock to $2.44 at last check. This robust uptrend is directly attributable to a momentous strategic alliance forged by Anghami, reshaping the media and entertainment landscape across the Middle East and North Africa (MENA) region.

    In a groundbreaking move, Anghami (ANGH) has entered into a strategic agreement with OSN+, the preeminent streaming platform for premium content in the MENA region. Anghami, renowned as the foremost music and entertainment streaming platform in the area, has taken the innovative step of merging its operations with OSN+.

    This groundbreaking collaboration between two indigenous brands is set to provide consumers with an unparalleled digital aggregation experience, encompassing the finest and latest offerings in premium movies, TV shows, music, podcasts, and more, thereby delivering a seamless and enriching user experience.

    Backed by a substantial cash infusion of up to $50 million from OSN Group into Anghami, the deal is poised to amalgamate over 120 million registered users and more than 2.5 million paying subscribers. With a projected revenue exceeding $100 million upon completion, this transformative agreement will position Anghami as one of the region’s largest streaming platforms.

    Anghami’s extensive catalog, boasting over 100 million songs, including exclusives from iconic artists such as Amr Diab, complements OSN+’s library of over 18,000 hours of video content. OSN+ holds exclusive partnerships with renowned international studios like HBO, NBC Universal, Paramount, as well as leading Arabic and Turkish studios.

    Driven by a customer-centric ethos, the newly-formed platform will leverage Anghami’s robust technological infrastructure and diverse music catalog, combined with OSN+’s premium video content library. This collaboration will deliver a distinctive digital streaming experience, featuring AI-driven hyper-personalization that prioritizes recommendations based on user preferences.

    The valuation of Anghami by the OSN Group at $3.65 per share, representing a 3.9x multiple of the stock’s average price over the past month, underscores the strategic significance of this partnership. Following the transaction’s closure in the first quarter of 2024, Anghami intends to maintain its listing on the Nasdaq Stock Market, with the OSN Group securing a majority stake in the company.

  • Anghami Inc. (ANGH) stock Under Correction Premarket Following its Monumental Gain

    Anghami Inc. (ANGH) stock Under Correction Premarket Following its Monumental Gain

    On February 17, shares of the recent Arab debutant on Nasdaq, Anghami Inc. (ANGH) rose a staggering 161.36%. The stock broke its all-time high and made a new history. Consequently, ANGH stock fell under corrections in the premarket today on February 18, 2022.

    During the previous trading session, the sock broke all records and reached a high of $33.13. ANGH closed the session at $28.88 with a gain of $17.83 at 20.4 million shares volume. Following the tremendous gain, the stock fell down to $26.30 under corrections in the premarket, at the last check on Friday. Hence, the stock ha lost 8.93% in the premarket at the time of writing.

    The Abu Dhabi-based company, Anghami Inc. is a leading music streaming platform and service. Currently, the company has only 31.5 million shares outstanding in the market and has a market capitalization of $348.08 million.

    What Happened?

    It was only recently at the start of February 2022 that the Arab technology company started trading on Nasdaq. Since the commencement of its trading on Nasdaq, ANGH has remained highly volatile with sudden bursts of big gains and losses. The reason for this high volatility is the small number of outstanding shares, making it susceptible to large price swings.

    On February 17, investors flocked towards the stock like crazy, making it trade at 4,297% of its average volume. ANGH stock broke all records and marked a huge new all-time high on Thursday. There seems to be no plausible explanation for the sudden huge outburst and gain on Thursday. No official news or SEC filing has been reported, thus, the stock might have gained on external factors. Subsequent to the monumental gain, the stock was bound to fall under corrections and hence, it started declining in the premarket today.

    ANGH’s Nasdaq Debut

    On February 04, the company’s common stock shares and warrants commenced trading in the U.S. on Nasdaq under “ANGH” and “ANGHW”, respectively. This marked a new history as Anghami became the first-ever Arab technology company to be listed on the Nasdaq exchange.

    The transaction resulted in gross proceeds of $220 million to the company. As per the agreement terms, Anghami’s Co-founder and CEO, Eddy Maroun, and his team are to continue leading the company. Furthermore, the CEO of VMAC, F Jacob Cherian has joined the company as co-CEO for one year.

  • Anghami Inc. Ordinary Shares (ANGH) Stock High in Premarket, Here’s the Reason.

    Anghami Inc. Ordinary Shares (ANGH) Stock High in Premarket, Here’s the Reason.

    Anghami Inc. Ordinary Shares (ANGH) is the pioneer and leading music technology portfolio in the Middle Eastern and North African territory. The company has one of the largest music catalogs encompassing 72 million songs and licensed content. The main sources of the music content include Arabic labels, independent artists, and distributors and it has the availability to 75 million customers. The company has its offices in Beirut, Dubai, Cairo, and Riyadh and operates in 16 countries across MENA.

    The price of ANGH stock during the regular trading on February 4, 2022, was 12.07 with a 22.7% increase. At last check in the premarket on February 7, 2022, the stock rocketed by 38.21%.

    ANGH: Events and Happenings

    On February 4, 2022, ANGH announced about filing a Report to the SEC of the foreign private issuer pursuant to its rule 13a-16 or 15d-16. On February 4, 2022, ANGH reported about the completion of the business merger with Vistas Media Acquisition Company. ANGH’s common ordinary shares and warrants started trading on NASDAQ on February 4, 2022, under the ticker symbol ‘ANGH’.

    On January 04, 2022, ANGH reported about its collaboration with Amazon’s smart assistant technology, Alexa. The company aims to bring localized music experience in Arabic voice along with English, representing the rich Arab culture to its Arabic and English-speaking consumer base.

    On December 18, 2021, ANGH and Sony Music Entertainment Middle East co-reported about introducing their joint venture record label ‘Vibe Music Arabia’ that will back the independent Arabic artist community in the Gulf, Saudi Arabia, and the Levant.

    On December 6, 2021, ANGH announced the launch of its Original podcast named ‘Shagaf’ and it highlighted the Arab and Saudi Women’s success stories in business and entrepreneurship. Emon Shakoor hosted the show, who is the CEO of Saudi Arabia’s foremost tech-inclusion and female-centered accelerator. The podcast’s aim is to motivate the addressees by the stories of entrepreneurial inspiring Women. The podcast sheds the light on the women who are part of Saudi Arabia’s historical transformation.

    Conclusion

    ANGH is a newly NASDAQ listed company. The stock of the company outperformed by 21.4% in the last six months period. The current premarket rise in the stock price can be attributed to several factors including the company’s listing on NASDAQ and filing Form 6-K with the SEC.