Why Match Group Stock Jumped on Thursday
Shares of Match Group (NASDAQ: MTCH) turned sharply higher Thursday, surging as much as 14.4%. As of 2:17 p.m. EDT, the stock was up 9.7%.
The online dating leader will directly benefit from a groundbreaking decision by Alphabet's (NASDAQ: GOOGL) (NASDAQ: GOOG) Google Play Store.
In a post on the Android Developers Blog, Google announced that, effective Jan. 1, 2022, the company will decrease the service fee it charges for all third-party subscription apps on the Google Play Store to 15%. Subscription apps were historically charged a 30% commission for the first year, then 15% each subsequent year. Additionally, Google charged 15% on the first $1 million of revenue.
Source Fool.com
