Urban-gro Stock Soars 72% After Cricket Media Rights Merger Deal
Shares in Urban-gro (UGRO) surged on Monday after a major deal involving cricket media rights. The stock opened at $2.17 in premarket trading but quickly climbed to $3.75—a 72% jump from Friday's close. The rally followed months of steep declines, with UGRO losing around 85% of its value over the past year.
The sudden rise came after Innovative Production Group (IPG) completed an all-stock merger with Flash Sports & Media. This deal brings T20 cricket league rights under the UGRO ticker, including the Lanka Premier League and tournaments in Malaysia and Zimbabwe. Plans are also underway to expand into Bangladesh and the UAE.
Before Monday's rally, UGRO had struggled, trading near 52-week lows. The stock was 22.7% above its 20-day moving average but still 16.3% below its 50-day average. Analysts noted key resistance at $3.50 and primary support at $2.50. The merged company aims to streamline sponsorship deals, upgrade broadcasts to 4K, and build recurring revenue across South Asia and emerging cricket markets. These changes could reshape UGRO's financial outlook after a difficult year.
The merger with Flash Sports & Media has given UGRO a sharp boost, reversing months of losses. With new cricket media assets and expansion plans, the company now focuses on strengthening revenue streams. Investors will watch whether the stock can hold above the $3.50 resistance level in the coming sessions.
