Spark Stock Declines 25% Following Zoosk Spike

The share price of Spark Networks, parent company to Jdate, Elite Singles, Attractive World and others, has dipped around 25% since a spike earlier this year. The high point came in March, following the announcement that the firm had acquired legacy brand Zoosk.

Spark jumped from $10.50 on 14th March to $16.62 on 27th March, a rise of almost 60%. Shares went on to dip, however, declining around 15% between 27th March and 15th April.

At today’s price of $12.40, the company has now seen its value return to August 2018 levels.

At the last earnings call, CEO Jeronimo Folgueira said:  “2018 was our first full year as a public company, following the close the of the Affinitas / Spark merger in November 2017.

“Looking back, I am pleased with our ability to integrate and stabilize the Spark Networks, Inc. operations while also growing our consolidated Revenue, Net Income and Adjusted EBITDA to achieve the 2018 financial guidance we set in August.  

“As we look ahead, we are excited to add Zoosk to our portfolio of brands and to begin the post-merger integration work that will enable us to achieve the profitability goals we have set for 2020 and beyond.”

The Meet Group, publicly traded parent to Lovoo, has also seen its share price drop some 35% since a 2.5 year high in March. The video streaming giant’s Q4 and FY financial results had exceeded expectations significantly.

Aegis Capital and ROTH Capital have both listed The Meet Group as a “buy” in recent weeks, despite the dip in shares.

Elsewhere, Match Group stock continues to perform well. The firm behind Tinder, POF, OkCupid and dozens of other dating brands achieved a $20 billion valuation earlier this month.

Visit the Spark Networks website here.

Scott Harvey

Scott is the Editor of Global Dating Insights. Raised in Dorset, he holds a BA from The University of Nottingham and an MSc from Lund University School of Economics and Management. Previously he has written about politics, economics and technology for various online publications.

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