Do Bumble's Metaverse Ambitions Make Any Sense?
Bumble's (NASDAQ: BMBL) stock has declined nearly 40% over the past month and now trades roughly 20% below its IPO price of $43 per share.
Most of that decline occurred after Bumble released its third-quarter report on Nov. 10. It beat analysts' estimates on the top line, but missed their profit estimates and lost paid users on a sequential basis. Those problems largely overshadowed its higher revenue and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance for the full year.
I recently covered Bumble's third-quarter miss in detail, but today I'll focus on the online dating company's curious focus on the "metaverse" -- which blurs the lines between the physical and digital worlds -- in its latest conference call. Let's see if it actually makes sense for Bumble to focus on the metaverse, or if it's merely trying to generate some hype with this new buzzword.
Source Fool.com
