Match Group Is Soaring After Google's New Announcement: Here's What It Means For the Stock
Big news came out in the consumer technology world last week when Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) -- the parent company of Google -- announced that it was lowering the fees on its app store for mobile developers. This fee change was welcome news for investors in companies whose businesses flow through the app stores, like Duolingo and Bumble. Both stocks jumped more than 10% higher on the announcement.
One of the biggest companies this will affect is Match Group (NASDAQ: MTCH), the owner of popular dating apps like Tinder and Hinge. The stock popped 14% on Google's announcement, although most of those gains have faded away as the stock now is up only 6.5% in the past five days. Here's what the new rule means for Match Group and its stock going forward.
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Source Fool.com
