Match Group Stock Recovery Stalls

Match Group stock has plateaued, after recovering half of the value that it lost following the Facebook dating announcement at the end of May.

After an initial fall from $47 to $34, the stock climbed back to $44 over a period of 6-7 weeks.

It then fell to approximately $39, where it has remained for around 4 weeks.

CEO Mandy Ginsberg has spent time this month reiterating that she does not see Facebook Dating as a threat, telling Fortune:

“When you really want to get out there and meet someone, you’re usually on more than one [app], usually three.

“While I’d never underestimate Facebook, we focus on just one thing.”

She said on the Recode Decode podcast: “If you’re a 23-year-old and you’re going to be using two or three apps, definitively, we think you’re going to use one of our apps, most likely Tinder.”

IAC, umbrella company to Match Group, focused its Q1 presentation on the threat posed by Facebook.

IAC CEO Joey Levin said in a letter: “A single new competitor, even a powerful one, cannot just uproot us – our fate is in our own hands.

“No matter what our competitors may do, or large internet platforms may announce, we have tens of millions of people all over the world who visit our brands every month to find like-minded people with the express purpose of finding a relationship.”

Read more from Mandy Ginsberg here.