Has Match Group Stock Reached a Once-In-a-Decade Buying Opportunity?
Meeting a spouse online is no longer a rarity -- 25% of engaged couples met online in 2021, according to The Knot. With that number increasing, it makes sense to look at the largest provider of apps in this space: Match Group (NASDAQ: MTCH).
Match Group owns some top dating apps, including Tinder, Hinge, Plenty of Fish, and many more. However, the stock has had a rough few years, falling more than 70% from its highs reached during the summer of 2021. With the stock down that much, is it worth an investment? Let's find out.
As we move into 2023, investors will begin to better understand new CEO Bernard Kim's vision for the company. After taking over on May 31 from Shar Dubey (who continues to serve on the board of directors), Kim -- who comes from Zynga, the gaming app company -- hasn't had much time to execute his vision. With his prior background, he is well-versed in monetizing apps, so the potential for revenue increases in Match Group's products is an exciting prospect.
Source Fool.com