Shares of Match Group Inc. (NASDAQ: MTCH) fell almost 20% last week. Why was MTCH stock declining so significantly, and was the time right for long-term investors to buy the shares?
25-cent Stock Takes $11T Commodities Sector Digital
One brilliantly-run technology firm has successfully partnered with some of the largest players in the industry to bring a first-of-its-kind digital solution to the global commodities supply chain sector. Best of all, this upstart technology firm is currently trading undiscovered — below 25-cents per share — so very, very few investors know about it yet! For investors… it's an early-stage opportunity in a company that's bringing the US$11T global commodities sector straight into the 21st century.
All the details are in the FREE online report you can get here.
Despite the COVID-19 pandemic in the past year, Match Group’s revenues increased 17% year-over-year to $ 2.4 billion. Last year’s net income was around $ 750 million, and free cash flow continued to generate significant profits. Tinder is Match Group’s biggest revenue source, but the MTCH stock is also improving its monetization with other products.
Over the past four quarters, sales of the Hinge app have more than tripled, with downloads growing 63 %. Hyperconnect, a South Korean company, had been purchased earlier by Match Group. Hyperconnect itself has two popular apps. The first is Azar, which was designed to give you one-on-one face-to-face chat.
Translation features are one of the main advantages of the app for people who speak different languages. The second application allows audio and video meetings and group communication through Hakuna Live. About 23 million downloads have been made of Hakuna Live.
This leads to Match Group’s overall performance remaining stable, its audience expanding, and its monetization rates increasing. There is no reason to panic for Match Group investors yet. Currently, the MTCH stock’s share price is trading more than 120 percent above its 52-week low.
MTCH stock declined despite no objective reason. Match Group Inc. (MTCH) opened Tuesday at $131.48 and touched an intraday high of $132.58. Tuesday’s trading session also saw an intraday low of $129.68. Match Group Inc. had an average daily volume of trading volume above 12.6% on Tuesday. A total of 2.39 million shares were traded.