Match Group (MTCH) is the IBD Stock of the Day as the owner of the Tinder dating app rebounded bullishly off its 50-day moving average. Match stock trades mainly on Tinder paid subscriber growth, with analysts expecting a boost from expansion in Asia.
Shares in Match have shot up 75% from a year ago despite Facebook (FB) moving aggressively into dating connections. Facebook in May said it plans to expand a dating offering to 14 countries in 2019, up from three last year.
Match stock popped 7% to 71.48 on the stock market today, rebounding from its 50-day moving average in heavy volume. That offers a follow-on buy opportunity for existing shareholders. With the gain, Match stock is trading roughly 5% below a flat-base buy point of 75.38…
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