Spark Networks (NYSE: LOV), the dating company above brands such as Attractive World, Jdate, AdventistSingles and eDarling, has seen its stock fall at the beginning of December.
Shares dropped from $5.42 on Friday, 29th November to $5.10 at the time of writing (3/12), a decline of more than 5%. Earlier in November, the price was as high as $5.61.
The dip comes during something of a plateau for the Berlin-based firm; its shares have not sold for below $5 or above $6 since September 2019.
In the six months leading up to September, LOV fell more than 50% from an all-time high of $15.90. It is now down over 66% on that peak, and 56% on the 2017 Spark-Affinitas merger.
Last month, the company announced a change at CEO. Jeronimo Folguiera will step down at the end of the year, making way for Eric Eichmann, former CEO of the global technology company Criteo.
Folguiera, who will sit on Spark’s board going forwards, said: “I am extremely proud of what we have achieved during my time at Spark.
“The company is in a strong strategic position and I am confident that Eric can lead Spark through the next phase of growth. I look forward to working with Eric to ensure a smooth transition over the coming weeks.”
At the start of July, Spark acquired legacy brand Zoosk for $255 million ($150 million in American Depositary Shares, $95 million net cash consideration for Zoosk shareholders and a $10 million deferred cash payment).
The acquisition made it the second-largest dating group in Western markets after Match Group, the parent to Tinder, OkCupid and Hinge.
Visit the Spark Networks website here.