Bumble soared in public debut
A successful day for Bumble on its first day as a publicly traded company. One of Tinder’s main competitors started trading yesterday on the NASDAQ, under the symbol BMBL.
The stock began the trading session at $76 per share, almost 77% higher than its highest target price of $39. It sold 50 million shares, and its market cap reached nearly $7.7 billion.
According to the statement given by its founder, Wolfe Herd, Bumble is focusing on “converting more of its user base to those paid customers by reinvesting in future monetization features and product offering.” The company generates revenue when customers buy premium subscriptions, which starts at $17.99 per week.
Bumble stock closed 63.5% higher, at $70.31.
This information is prepared for general circulation. It does not have regard to the specific investment objectives, financial situation or the particular needs of any recipient.
You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.
This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent.
Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of sc.capex.com