SurgePays Stock Soars 44%

(RTTNews) - SurgePays, Inc. (SURG) shares jumped 43.69 percent, or $0.18, to $0.5970 on Thursday, likely continuing momentum after the company announced an amended agreement yesterday with one of its Tier 1 wholesale wireless network providers that improves subscriber economics and strengthens its balance sheet.

The stock is currently trading at $0.5970, compared with its previous close of $0.4149 on the Nasdaq. It opened at $0.5836 and has traded between $0.5115 and $0.5900 during the session. Trading volume reached 67.46 million shares, significantly above its average daily volume of 1.33 million shares.

Under the amended agreement, the company expects lower customer acquisition and recurring subscriber costs, the elimination of a $50 million minimum purchase commitment, a reduction of approximately $10.3 million in accounts payable, and an estimated $8.5 million accounting gain, improving its financial position and supporting more profitable growth.

SurgePays shares have traded in a 52-week range of $0.3390 to $3.45.