Match Investors Should Worry About Bumble, Not Facebook
Posted on October 3, 2018
BLOOMBERG – Oct 2 – Match investors appear to have gotten over their Facebook fears. When the social media giant announced plans in May to launch an in-app dating feature, Match Group Inc. shares fell 22%. That, however, appears to have been just a blip. The stock is up more than 50 % since May 1 and has gained 81% for the year. But CEO Mandy Ginsberg isn't sitting still. "We'll have to see what happens and keep an eye on it," she said. Jefferies analyst Brent Thill is among those defending Match. He upgraded the stock to buy from hold in June. He doesn't see Facebook as a threat, at least not in the short term. Perhaps Match investors should be more worried about what's going on with Bumble, another millennial-focused dating app, said Thill.
