Trade on why we look at a more attractive purchase

Favor Match, not Bumble?

Mark Tepper, chairman of Strategic Wealth Partners, said he would prefer to partner with Match before the first release of Bumble’s results as a publicly traded company. Check out the top three dating apps, Hinge, Tinder, and Bumble, he said.

“Match Group owns Hinge and Tinder, so those are two of the top three,” he told CNBC’s “Trading Nation” Monday. “I’ve owned Match in the past, and it’s now brought down to a level where I actually considered going back. Just under $ 140, that’s where I would come back. When I watch Match, I just think that it’s really a more attractive valuation, and that you’re going to get as much growth as you’d get with Bumble. “

The game traded above $ 152 on Tuesday. Shares were up 4% for the session.

Still, Tepper isn’t ready to count Bumble just yet.

“It’s too new. I’ll wait and see if they can perform or not, so I’ll just sit on that one. Once they show me they’re going to continue to have traction in it. space, I’m going to dip my toes in the water a bit, but I prefer Match here, “he said.

Bumble’s growth potential is “huge,” according to Gina Sanchez, CEO of Chantico Global and chief market strategist at Lido Advisors.

“By their own estimates, you’re talking about a potential market of 980 million people. That’s a lot of people,” Sanchez said during the same segment. “Although they have good penetration in the United States, they continue to expand globally, looking at Asia, looking at Latin America.”

Its branding also sets it apart from its competition, Sanchez said. The app gives women the option to approach first, which is different from other dating networks where either party can strike up a conversation.

“If you look at how the social conversation has changed over the past five years, especially with the #MeToo movement, women’s safety and women’s empowerment is going to be a very strong brand. And then you take that branding and you put some extra rocket fuel behind it, which is the economic reopening at a time when people feel the most lonely and isolated, I think it’s a very powerful combination, ” Sanchez said.

Bumble, which is expected to report after the bell on Wednesday, is expected to post a net loss of 9 cents per share and sales of $ 163.3 million, according to FactSet. Shares of the company rose more than 5% to $ 63.65 on Tuesday.

Disclaimer


Source link

Comments are closed.