Bumble stock crashes 39 Percent, set to lose $350 billion in market value after dating app trims 2024 revenue guidance

Bumble stock crashes 39 Percent, set to lose $350 billion in market value after dating app trims 2024 revenue guidance

MINT | August 8, 2024 | 10:02 PM IST | Breaking News | Follow on Google News

Bumble stock crashes 39 Percent, set to lose $350 billion in market value after dating app trims 2024 revenue guidance

Bumble stock crashes 39 Percent, set to lose $350 billion in market value after dating app trims 2024 revenue guidance

Bumble shares slumped nearly 36% to a fresh record low after the women-centric dating app slashed its annual sales growth forecast and paused some revenue-generation efforts, turning the spotlight on the pace of a turnaround.

Last trading at $5.11, the $1 billion company was set to lose more than $350 million in market value. The fortunes of Bumble have turned since its $14 billion blockbuster Nasdaq debut in 2021 dating app operators grapple with a post-pandemic decline in growth

MINT