Is This Beaten-Down Growth Stock a Buy Heading Into 2023?
It's been a wild ride for online dating specialist Bumble (NASDAQ: BMBL) since it became a publicly traded corporation in early 2021. The company was one of the more highly anticipated IPOs last year, but its shares have been southbound more or less ever since. Perhaps the challenging economic environment marked by supply chain issues and inflation isn't helping, but Bumble's financial results have sometimes been subpar.
However, the fact that Bumble runs one of the more popular online dating apps could allow it to turn things around eventually. With that as a backdrop, let's consider whether Bumble's stock is worth buying as the year ends.
There are scores of online dating options, and many, including Bumble App, have adopted the famous swipe left/right model Tinder pioneered. In the case of Bumble App, that's not too surprising. The company's current CEO, Whitney Wolfe Herd, was the co-founder of Tinder. Further, Herd found a way to differentiate Bumble App from the pack by putting women in charge since only they can initiate conversations when matching with a member of the opposite sex.
Source Fool.com
