---
title: "SurgePays (SURG) Stock Surges Over 61% After Hours: Why Is It Moving?"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/291501566.md"
description: "SurgePays Inc. (SURG) shares surged over 61% in after-hours trading following an amendment to its wholesale wireless agreement. The deal eliminates a $50 million contingent liability, reduces accounts payable by approximately $10.3 million, and is expected to generate an $8.5 million gain. Executives state the restructuring will lower cost of goods sold and expand margins."
datetime: "2026-07-02T05:05:47.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/291501566.md)
  - [en](https://longbridge.com/en/news/291501566.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/291501566.md)
generator: "portal-rs"
---

# SurgePays (SURG) Stock Surges Over 61% After Hours: Why Is It Moving?

**SurgePays Inc.** (NASDAQ:SURG) shares jumped 61.15% to $0.67 in after-hours trading on Wednesday, after the Tennessee-based wireless and fintech company amended its agreement with a Tier 1 wholesale wireless network provider.

## Amended Wireless Pact Erases Liability

The deal restructures wholesale pricing and eliminates a prior $50 million minimum purchase commitment over three years, wiping the related contingent liability from SurgePays’ balance sheet.

According to the company, the provider also adjusted previously invoiced non-usage charges, a move expected to cut accounts payable by roughly $10.3 million and generate an $8.5 million gain relating to expenses previously reported for the three months ended Mar. 31.

## Margins Set to Expand, Executives Say

Chief Financial Officer **Chelsea Pullano** said the amendment “removes a significant contingent liability from our balance sheet while improving the economics of every subscriber we add going forward.”

CEO **Brian Cox** said the company expects to “lower our cost of goods sold and expand margins across our subscriber base.”

## Trading Metrics, Technical Analysis

SurgePays has a market capitalization of $10.45 million. The stock has traded between a 52-week high of $3.45 and a 52-week low of $0.34.

Volume for the telecom company surged well above normal levels on Wednesday. Volume rose to 70.68 million shares, compared with an average daily volume of 191.27K shares, indicating significantly elevated trading activity.

The stock has a Relative Strength Index (RSI) of 44.18.

Over the past 12 months, SURG has dropped 86.87%.

The small-cap stock is currently trading close to its annual low.

**Price Action:** According to Benzinga Pro data, SURG closed the regular session at $0.41, up 14.93%.

**Benzinga’s Edge Stock Rankings** indicate that SURG has a negative price trend across all time frames.

*Photo Courtesy:*

**Disclaimer:** This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

 **Read Also: Vimeo Owner Bending Spoons (BSP) Stock Is Trending After Hours: Here's What You Should Know** 

*Photo: Garun .Prdt on Shutterstock.com*

### Related Stocks

- [SURG.US](https://longbridge.com/en/quote/SURG.US.md)

## Related News & Research

- [SurgePays delays Q2 10-Q filing after holdup completing financial statements](https://longbridge.com/en/news/296147570.md)
- [SURG: Q2 2026 saw a 40.7% revenue jump and a $1.29M profit, but major liquidity risks persist](https://longbridge.com/en/news/296402523.md)
- [Sparklight Carrier Services adopts TransUnion Universal Order Connect for wholesale connectivity orders](https://longbridge.com/en/news/297790807.md)
- [Truist names Harold Ford Jr. vice chair of wholesale banking](https://longbridge.com/en/news/297227328.md)
- [SurgePays amends Tier 1 wholesale carrier deal, removes USD 50 million minimum spend commitment](https://longbridge.com/en/news/291461632.md)

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**