What is The Arena Group Holdings, Inc.'s Shariah compliance score?

The Arena Group Holdings, Inc.'s (AREN) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does The Arena Group Holdings, Inc. pass AAOIFI screening?

The Arena Group Holdings, Inc. (AREN) does not pass AAOIFI Shariah screening. AAOIFI requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30% (AREN: 218.1%), (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%. HalalScreener provides free AAOIFI screening for 6,200+ stocks at halalscreener.app.

How much purification is needed for The Arena Group Holdings, Inc. stock?

Muslim investors purify the portion of dividends and realized gains that comes from non-permissible income by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification computes the exact percentage and amount for The Arena Group Holdings, Inc. (AREN) using the latest financial data.

Where can I screen The Arena Group Holdings, Inc. for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for The Arena Group Holdings, Inc. (AREN) and 5,100+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows the verdict, compliance grade, score, and debt ratio free. No credit card or signup required for basic screening; the full ratio breakdown is part of Pro. HalalScreener also includes an AI Islamic Scholar for follow-up questions about AREN's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

AREN: Is The Arena Group Holdings, Inc. Halal?

The Arena Group Holdings, Inc.

AMEXCommunication ServicesUS

$0.94

-1.28%

Market Cap: 44.7M

Compliance Status

Not Halal

Screened on Aug 26, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is The Arena Group Holdings, Inc. (AREN) halal? Not Halal. Based on AAOIFI screening, The Arena Group Holdings, Inc. passes the business activity screen but fails financial ratio screens with a compliance score of 0/100 (Grade: F).

AvoidBorderlineClean

Business activity

What the company sells is permissible.

Passed

Company debt

Over the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

218.1% of 30.0% limit

What this means for you

Most scholars advise not holding AREN

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

About The Arena Group Holdings, Inc.

The Arena Group Holdings, Inc. and its associated companies manage a digital media business with operations across the United States and globally. Central to its offerings is "The Platform," a custom-built online publishing system. This advanced platform incorporates a wide range of technologies, including content creation tools, video hosting capabilities, social media distribution channels, email newsletter technology, artificial intelligence-driven content recommendations, notification systems, and other proprietary innovations. The company rebranded to The Arena Group Holdings, Inc. in February 2022, having previously been known as TheMaven, Inc. Founded in 1990, its corporate headquarters are located in New York, New York.

Sector: Communication Services · Industry: Internet Content & Information

Shariah Compliance Status

AAOIFI Standard 21Updated Aug 26, 2026

Compliance History

Not Halal, unchanged since Aug 2026.

No status changes recorded since we began tracking.

Tracked since Aug 2026. Updates automatically on each re-screen.

Fiscal: Q2 2026Data source: EDGAR

Halal Alternatives in Communication Services

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

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WeShop Holdings Limited Class A Ordinary Shares

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GITSA+

Global Interactive Technologies, Inc.

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ELWTA+

Elauwit Connection, Inc. Common Stock

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GSATA+

Globalstar, Inc.

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Frequently Asked Questions

Is The Arena Group Holdings, Inc. (AREN) halal to invest in?

The Arena Group Holdings, Inc. (AREN) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did The Arena Group Holdings, Inc. get a F compliance rating?

The Arena Group Holdings, Inc. (AREN) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 218.1% (limit 30%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change The Arena Group Holdings, Inc.'s Shariah verdict?

The Arena Group Holdings, Inc.'s verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is The Arena Group Holdings, Inc. re-screened for Shariah compliance?

The Arena Group Holdings, Inc. (AREN) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Aug 26, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.