INVESTORS.COM – June 25 – Shares in Match have shot up 75% from a year ago despite Facebook moving aggressively into dating. Match stock popped 7.5% to 71.74 on the stock market today. With the gain, the company is trading less than 5% below a buy point of 75.38. The company gets nearly half its revenue from Tinder. Overseas growth in markets such as India, Japan, Taiwan and South Korea is key for Tinder and other products. In April, Match hired Ravi Mehta as its new chief product officer. Mehta had served as Facebook's product director for youth engagement. At Facebook, he helped develop Lasso, a competitor to the popular TikTok short video sharing app. Match is adding video to the Tinder app. Still, some analysts are cautious on the Match strategy. In May, Goldman Sachs analyst Michael Ng upgraded Match stock to neutral from sell.
by Reinhardt Krause
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