Match Group Stock Is Soaring. Here's Why. - Barron's

Match Group owns Tinder and other dating apps.

Leon Neal/Getty Images

Shares in Match Group, the owner of online dating platforms including Tinder and Hinge, soared in U.S. premarket trading on Tuesday, as the company was slated to become one of the newest additions to the S&P 500 index.

The stock was up more than 11% before New York trading began after the Labor Day long weekend.

Match will be added to the key U.S. blue-chip index as of Sept. 20, S&P Dow Jones Indices said in a statement on Sept. 3. The shares rose in after-hours trading last Friday following the news.

The company will replace pharma group Perrigo Company in the S&P 500, with Perrigo due to be bumped down to the S&P MidCap 400 later this month.

Match owns a suite of some of the world’s most popular online dating platforms, including Tinder, Hinge, PlentyOfFish, OkCupid, and Match, available globally in more than 40 languages. Shares in the company have climbed more than 45% over the last year but the stock is down around 1% so far in 2021.

Write to Jack Denton at jack.denton@dowjones.com

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Match Group Stock Is Soaring. Here's Why. - Barron's
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