Topic: How To Invest

Q: Pat, can you give me your recommendation for Bumble? It seems to have a good niche in the dating game and with COVID restrictions eased…. Thanks.

Article Excerpt

A: Bumble Inc., $23.01, symbol BMBL on Nasdaq (Shares outstanding: 129.6 million; Market cap: $4.4 billion;, is a dating app created for women by founder and CEO Whitney Wolfe Herd in 2014. She worked at Tinder, another dating app, before launching Bumble. Herd’s goal in starting Bumble was to put women in charge of the online dating process. Its women-message-first strategy immediately spurred interest, and the app quickly became a staple within the online dating community. The mobile application now has three arms (Date, BFF, and Bizz) for its users to network, make friends, and perhaps find romance. After six years as a privately owned company, Bumble went public on February 10, 2021, when it sold 50 million shares at $43 a share. Notably, that was above its proposed IPO pricing of between $37 and $39. The company’s shares jumped to as high as $84.40 shortly after they began trading. They have since fallen steadily to today’s price. On February 7, 2022, Bumble…

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