Shares of Match Group surged Tuesday on a Wall Street Journal report that activist investor Elliott Investment Management has taken a big stake in the online dating company. MTCH stock has been tumbling since October 2021 amid slowing growth for mobile app Tinder.
On the stock market today, MTCH stock jumped 13.5% to near 43 in early trading before the market open.
Elliott Investment Management has built a position of roughly $1 billion in Match, the WSJ reported. Aside from Tinder, Match also owns Hinge and other dating platforms.
MTCH Stock Surged During Covid-19 Pandemic
Match stock had gained nearly 4% in 2024 as of Monday's market close. That puts MTCH stock 36% above a November low, but still nearly 80% below the stock's Oct. 21, 2021, high — marked as shares climbed during the Covid-19 emergency.
IAC/InterActive spun off Match in 2020.
Match stock holds a Relative Strength Rating of 25 out of a possible 99, according to IBD Stock Check-Up.
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