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Why Hello Group Stock Was Jumping Again Today

TheMotleyFool

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Why Hello Group Stock Was Jumping Again Today: https://g.foolcdn.com/editorial/images/712528/china-e-commerce.jpg

Shares of Hello Group (NASDAQ: MOMO) were moving higher today for the second day in a row as investors continued to cheer a strong third-quarter earnings report from the Chinese online dating company and as it got an analyst upgrade this morning.

As of 2:56 p.m. ET, Hello Group stock was up 32.2% on the day after gaining 29.3% yesterday.

Revenue at Hello, which owns popular online dating sites like Momo and Tantan, actually declined 14% in the second quarter to $454.5 million as the company has faced headwinds from the COVID-19-related lockdowns in China, but that still beat estimates at $449.5 million.

Source Fool.com

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