According to the latest reports, the share prices for Match Group have experienced a significant rise. The data shows that the share prices for Match Group have experienced a significant rise on Tuesday, September 7, 2021 trading.
The data shows that the share prices for Match Group were topping the leaderboard for the stock markets. The analysts speculate that the rise in the share prices for Match Group was experienced following an announcement from Tinder.
Tinder is one of the most prominent and highly used dating applications and Match Group is known for operating the application. Tinder recently reported that it was going to make a move to the S&P 500 Index. The reports surrounding the matter revealed that the move can be expected sometime towards the end of the running month.
Since the reports, the share prices for the company have continued surging and the stock prices are constantly on the rise.
At present, the market capitalization of Match is $41 billion and it is known for managing one of the most prominent dating applications. It has been confirmed that the Match Group will be moved and enlisted on the S&P 500 Index starting Monday, September 20, 2021.
On the S&P 500 Index, Match Group will reportedly be replacing Perrigo Co., which is a major drug manufacturing brand.
The stock trading market experts have revealed that Match Group won’t be the only company that will make a move to the S&P 500 Index. There will be several companies alongside Match Group that will be moving the particular index starting Monday, September 20, 2021.
The experts have confirmed that the other firms would include Brown & Brown Inc., as well as Ceridian HCM Holding, which will be joining Match Group as it makes its move. The analysts have confirmed that the firms that these two firms will be replacing include National Oilwell Varco Inc. and Unum Group.
The data shows that on Tuesday, September 7, trading the stock prices for Match Group went up by 7%. As a result of the rise, the new share prices for the company are now $158.50 per share.
Apart from owning Tinder, Match Group also owns other dating applications such as OKCupid and Hinge. It was last month when Match Group announced that it expected a revenue generation between $790 million and $805 million in the third quarter of 2021
The firm has now announced that it will definitely be able to hit the benchmark that it has estimated in the last month for the said quarter. Despite the high revenue, the firm has announced that it may not observe high growth as compared to previous quarters. This is because of the rising number of delta-variant of corona infections.