With so many great stocks up for investing in on private trading platforms today, it can be tough to know which is going to offer you the greatest long term investment. Tech stocks can be some of the fastest for growth and two weeks ago, one of the largest dating sites in the world launched for investing through an IPO.
Bumble is a social dating platform that has become more popular than ever before with the pandemic and it sits among the 4th highest grossing dating app and the second most used dating up worldwide. The earliest underwriting price was set at $43 but the stock opened at a staggering $76. Now is a great time to get a second chance to move on Bumble. The stock is trending upwards of $85 on just its second day of trading but it has begun to slope downward.
Buying in while the stock settles gives you the perfect opportunity to capitalize on growth when Bumbles next upturn inevitably happens. As of last Thursday, a number of IPOS were hit hard by a mass selloff and this had Bumble trending down by over 7% that day alone. Hitting an all time low of just over $60 USD makes Bumble a very attractive investment to get started with. It is your second chance to buy into this stock and start seeing great results from its long term growth.
Match Group as a precedent:
One of the closest related IPOs to Bumble is that of Match Group. This parent company runs Tinder, OKcupid and hinge and since it launched its own IPO the stock doubled in its first year and then tripled in value throughout 2019. With the pandemic, the stock is soaring at a blistering rate.
Since 2019, bumble has had its own share of success, with its revenue up 36% to 488.9 million in the year 2019. There are many analysts that are suggesting Bumble could likely match or even exceed what the Match Group was able to deliver.
Bumble and Match Group are now growing at the same rate, with Bumble capturing a larger market share.
Empowering women in dating apps:
One of the reasons Bumble has become so well adopted is because it puts women in the drivers seat. Bumble is a platform where women message first and Bumble stands out as a platform for empowering women with its executive team too. 8/11 board members in Bumble are women and they are continuing with an approach focused on more long term dating goals and women’s empowerment in dating apps.
As the stock reaches lows with some IPO sell offs in trading, now could be the best time to pick up this stock before it rises back to its true value. Compared to its competitors in the market, Bumble has a long way to grow considering the market share of dating apps that it controls!