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With the end of the COVID-19 crisis, the narrative for dating and relationship-centric businesses like Bumble (BMBL) should be incredibly positive. When the SARS-CoV-2 virus still represented a mysterious and dreadful public health threat, the idea of meeting up with complete strangers – let alone engaging in closer relations – was anathema to plain old common sense. Thus, the early 2021 initial public offering of BMBL stock was fortuitously timed, to say the least.
About the only positive from the debut was that following the first day of public trading, BMBL stock reached $76. From then on, though, the market value cratered. In May 2021, BMBL slipped below its initial offering price of $43. After a concerted effort by the bulls to elevate demand, the stock slipped sharply in early November. From then on, it has yet to claw back to its initial offer.
