Match Stock Rides Tinder App, Overseas Growth As Taboos Die Out

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…

Read the full article on Investor’s Business Daily.