Why Match Group Stock Tumbled 15% in January
Shares of dating service app Match Group (NASDAQ: MTCH) fell 15% in January, according to data from S&P Global Market Intelligence. There was an initial price jump after the stock got an upgrade, and performance over the past few quarters has been excellent. The drop had more to do with the general macroeconomic environment that has been lowering prices for stocks with supersized valuations.
Match Group owns a large portfolio of dating and social meeting apps, including the eponymous Match.com and popular Tinder sites. The company says that 60% of all online dating relationships began on one of Match Group's sites.
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Source Fool.com
