Bumble Shares Join Tech Rally After Gen Z Worries Spurred Plunge
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Bumble Inc. joined a broader rally for tech stocks Thursday fueled by softer-than-expected US inflation data, erasing a premarket plunge following its results.
Bumble Inc. joined a broader rally for tech stocks Thursday fueled by softer-than-expected US inflation data, erasing a premarket plunge following its results. The shares climbed as much as 14%, after earlier sliding on concern that younger users aren't renewing their subscriptions on the company's main dating app. Stock gains notwithstanding, analysts were cautious on Bumble after it reported worse-than-forecast revenue in the fourth quarter. The update triggered price-target cuts from brokers including Deutsche Bank AG, Goldman Sachs Group Inc. and Morgan Stanley. Bumble had slumped as much as 15% in premarket tra...