Match Group owns 60% of the online dating market share. If the metaverse were to grow as much as many predict, Match Group stock could be a huge beneficiary.
If there is one obvious upside to the metaverse it’s connecting people. And one of the most obvious ways to connect with others is online dating. With younger generations having fewer real-life friends than ever before, it seems the perfect storm for a monopoly in the online dating space to grow exponentially.
DuPont Capital Management bought a lot of Match Group in Q3 of 2022. However, Zacks doesn’t think now is the time to buy just yet, giving the stock a Strong Sell rating. Match Group has a P/E ratio of 144.49 and a forward P/E ratio of 24.51. Match Group has a market cap of 13.64 billion. 99.30% of the Match Group stock is owned by institutions.
Match Group stock has recently broken out of its downtrend pattern to the upside, but there is nothing to suggest the downtrend is over. The technicals suggest Match Group stock is not a buy at its current price of $51.44. Look for it to head back down to $45.
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