You couldn't be faulted for swiping left on dating app company Match Group (NASDAQ: MTCH) in 2022. Down over 60% this year, the owner of Tinder, Hinge, and Match.com is one of the worst performers of the S&P 500 index, even lagging behind big losers like Netflix. With foreign exchange headwinds, disappointing guidance, and an unexpected managerial shake-up at Tinder, its most important app, investors have lost faith in Match Group stock this year.
Match Group (NASDAQ: MTCH) investors lost ground to a falling market this week as shares declined 12% through Thursday trading compared to a 3% slump in the S&P 500, according to data provided by S&P Global Market Intelligence. The drop wasn't powered by specific operating news; rather, investors continued to sour on companies like Match, which are reporting slowing growth and operating losses. Match joined many peers, including Bumble, in falling during this rough trading week.
Online dating specialist Match Group (NASDAQ: MTCH) has had a rough go of it over the past year. Following a pandemic-related boom, the tech company's revenue growth has slowed. When also considering market-wide problems such as inflation and company-specific issues (more on that later), it's not surprising that Match Group stock now finds itself near its 52-week low as of this writing.