Angel Studios, in its stock market debut, saw investor enthusiasm for its “values-based” entertainment strategy — an approach that co-founder and CEO Neal Harmon says flips the script on the industry’s prevailing streaming-subscription model.
Shares of Angel, which began trading Thursday on the NYSE under the symbol “Angx” after it closed a merger with special purpose acquisition company (Spac) Southport Acquisition Corp., ended their first day on the public market up 8.4% (and was up an additional 13% in after-hours trading). That, however, came after a much bigger rally that saw the stock surge over 50% earlier in the session.
In an interview with Variety,…
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