2019 Brings Significant Gains for Momo and Match Group

Both Momo and Match Group have seen rapid increases in their respective share prices since the turn of the year.

Momo’s price has increased from $23.75 on December 31st to $29.67 at the time of writing. Match has risen from $42.77 to $57.73 over the same period. 

The market cap for the former now sits at just over $6 billion, while the latter is valued at $16 billion.

Match is now approaching its highest ever valuation. It crossed $60 per share for the first time in September, before falling to below $37 in mid-November after a pessimistic outlook accompanied its Q3 financial results.

2018 was by far the most turbulent year since the company’s IPO. The shock of Facebook Dating in May sent the stock plummeting, before a slow rollout saw it jump back to its previous value.

Investors spent the latter half of the year trying to work out whether Match would dominate the sector and benefit from societal tailwinds, or whether new competition would torpedo its growth. 

Momo, meanwhile, has benefitted from the general strength shown by Chinese tech stocks in early 2019.

It lost over 45% of its value between October and December, with concerns stemming in part from a Spruce Point Capital report claiming it was overvalued.

Read more here.