Why Match Group Stock Fell 15% This Week
Shares of Match Group (NASDAQ: MTCH) trailed a slumping market this week. The dating app specialist's stock dropped 15% through Thursday trading compared to a 2.8% decline in the S&P 500, according to data provided by S&P Global Market Intelligence.
That move contributed to big short-term losses for Match investors, with shares down over 50% so far in 2022. It came as Wall Street grew more pessimistic about the outlook for growth stocks.
This week, Match announced the timing of its upcoming earnings report. That operating update will arrive on Aug. 3, the company said on Wednesday. The news might have turned investors' attention toward that report, which could show slowing sales and weakening earnings trends as compared to earlier phases of the pandemic.
Source Fool.com
