Match Group's New CEO Is Buying the Stock -- Should You?
Online dating app giant Match Group (NASDAQ: MTCH) has had a rough go of it the last year and a half -- the stock is down more than 75% from its 2021 high. In recognition of a number of issues that were plaguing the company, Match Group brought in Bernard Kim -- formerly CEO of mobile gaming company -- to take the reins last May. Though Kim's first 12 months in the driver's seat certainly haven't been anything to write home about for shareholders, he thinks there are better days ahead.
Two weeks ago, Kim purchased more than $1 million of Match Group stock on the open market at an average price of $34.44 per share. While insider buying can occur for many reasons, it still begs the question: Is now a good time for investors to follow in Kim's footsteps?
Before diving into the opportunities that could be in store for the company, it's important to understand what spurred the stock's sell-off.
Source Fool.com
