- A slide at dating app company Bumble (NASDAQ:BMBL) is accelerating, with Thursday's 14.5% tumble its worst in months.
- The stock has hit its all-time low, just over a year after its initial public offering. The company had priced in February 2021 at $43/share but quickly rose closer to $80/share.
- On Thursday it hit $19.31. And the move deepens a decline over the past five days that had amounted to a 12%-plus drop. The stock fell on eight of the past 10 trading sessions and is down 22.5% over the past month (see a one-month chart of performance vs. the market and Match Group (MTCH -4%) here.)
- Volume is relatively heavy, at 2.75 million shares traded, surpassing the daily average of 1.7 million shares.
- The slide comes just a week before Bumble's earnings, which are set for after the close on Tuesday, March 8. Consensus expectations are for the company to post revenue growth of nearly 27%, to $209.9 million - though earnings per share estimates range from -$0.02 to $0.19.
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