MTCH Stock – This “Hot” Stock Wins Off the Singles Market
The Spring is here and that’s a great sign for Match Group (Nasdaq: MTCH) – the weather is heating up, and so is the dating scene! As vaccinations continue to increase, socially distant relationships will naturally decrease. This means dating services like Match.com should see a huge uptick in usage in the coming months.
MTCH Stock – The Effects of the Pandemic
“First of all, you have the CDC who is reporting that fully vaccinated people should feel safe to travel again… awesome right? Secondly, we’re seeing record numbers of vaccines getting administered on a day-to-day basis. I think we’re now over three million vaccines going into arms per day…awesome news! And then, you even have Dr. Fauci himself saying that life is soon gonna get back to normal finally. Lump all that together and that’s why I really like Match.com right now.”
Despite the effects of the pandemic, Match Group still saw record revenue numbers in 2020, totaling $2.4 Billion. All totalled the company increased revenue by $349 Million year-over-year from 2019. However, the increase in revenue does not tell the whole story, as net earnings ($187M) saw a decrease of $347 Million in 2020.
Match Group Update
Like so many other companies, MTCH stock saw a significant drop in share price in the middle of March 2020. The dating company’s stock fell from $91 all the way to $47 in the span of just over 2 months. But, like so many people after a bad breakup, MTCH stock is on the rebound. The stock has seen a huge increase and is currently trading at $142 a share.
Bottarelli went on to say “The days of having those lame virtual happy hours are over. We’re going to get back to meeting in person, face-to-face in bars and restaurants and coffee shops all over the world. That’s going to mean huge engagement numbers for Match Group. So from a stock perspective, I could see Match stock bouncing up to 150 and possibly even retesting the February highs at or above the 170 level.”
To watch the full episode of Bottarelli’s Trade Talk Tuesday’s, visit here or click the play button below.
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MTCH Stock Forecast
Another reason for investors to remain optimistic in Match Group stock is the increased focus on partnerships. Match currently has a pending $1.72 billion deal with South Korean tech company Hyperconnect, as well as New York-based Garbo, a platform that specializes in background-checks and violence prevention.
As for daters… they’re single… and ready to mingle. Oh, and they’re vaccinated too. As we get back to normal life, Match.com and its stock should soon see record levels of reengagement. As always, we’ll keep a close eye on the market and any factors that could play a role.