Match Analysts Unfazed By Facebook’s Expanded Dating Service
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Match Group Inc. shares fell sharply in Thursday trading after Facebook Inc. announced it would be expanding its dating service into the U.S., raising the prospect of a major competitor to the operator of the Tinder app.
Shares opened higher but subsequently fell as much as 7.2%, putting the company on track for its biggest one-day decline since December. IAC/InterActiveCorp -- which last month said it was considering a spin-off of Match, one of its publicly traded subsidiaries -- fell 4.2%.