Why Match Group Stock Fell Today
Shares of Match Group (NASDAQ: MTCH) have fallen today, down by 6% as of 2:15 p.m. EDT, after the company completed its spinoff from IAC (NASDAQ: IAC). Previously a majority owner, IAC had announced the plans last fall.
Following the separation, Match has eliminated its dual-class structure and IAC shareholders now hold Match shares directly. IAC and Match stockholders formally approved the spinoff last week. IAC has a long history of acquiring businesses and growing them before spinning them off into independent companies.
Tinder is Match's biggest dating platform. Image source: Tinder.
Source Fool.com
