The 2020 pandemic hit many companies hard, while other companies took it as a chance to grow, seemingly unaffected by the state of the world around them. NVIDIA (NASDAQ:NVDA) came out as one of those thriving businesses and achieved gains of 122% in 2020. The company’s graphics processing units (GPUs) were present and needed for trends that accelerated exponentially due to the pandemic, boost...
Bumble (NASDAQ: BMBL) has been upping its IPO significantly by initially selling for $76 and increasing to $85 the next day. It went strong for a couple of trading days until experiencing a sudden decrease of 7%, experiencing its lowest value at $61.70. It has since stabilized at $73.13 and is predicted to increase significantly over the next period. However, these fluctuations haven’t kept potential buyers off the stock.
With the COVID-19 pandemic still in effect, online dating has been hit hard. However, online dating will become more popular than ever after it is over. Companies behind several hookup platforms like Match Group (parent of platforms like Tinder and OkCupid) have been candidates for massive growth with the potential increase in demand for online dating services. At this point in the game, Bumble has cheaper IPOs and is estimated to grow much faster than Match after the pandemic ends.
Bumble also happens to have two of the most popular dating apps on its portfolio (its namesake app, Bumble, ranked second and Badoo, ranked fourth). The Bumble app itself only comes second to Tinder, with more than 43 million active users a month compared to Tinder’s 57 million. Even though many would say it’s lagging by a significant margin in terms of popularity, one can argue that Bumble’s potential for growth due to its unique approach to how users initiate conversations with potential partners.
Tinder co-founder Witney Wolfe Herd initiated the app to give women more control over the dating process, allowing only them to “make the first move” when matching. Making women the only ones to initiate communication eliminated the social premise of traditional gender roles in dating, giving women more say in matchmaking.
Women are taking advantage of this safe space and making the most of it. Since its launch, more than 1.5 billion “First Moves” (Bumble’s “Tinder Swipe” equivalent) have been made.
Today, Bumble is still capable of gaining momentum and increasing its market share, downloads, and potential users as the COVID-19 crisis slowly dissipates. Keeping it on your radar might be a great idea so you can act and manage to make your first move on the stock before it rises again.