Match Group Surges as the Online Dating Company Joins S&P 500.
Hey Hisa Fan,
U.S Stock markets were closed on Monday as the country celebrated labour day, trading is back and now here’s what we are looking at during today’s trading.
Match Group Inc [NASDAQ: MTCH]
Well, it’s not only dating but seems like Match Group Inc is set to provide one of the best returns to investors this week.
The company whose main business is online dating is set to join the S&P 500 starting the 20th of September 2021. Match Group Inc owns dating app brands such as the all famous Tinder, Hinge, and OkCupid.
After the announcement, Match Group shares rallied as much as 15% touching a high of $170 per share. The company’s shares are up by a mere 2% year-to-date but are up more than 34% over the past year.
JD.com [NASDAQ:JD]
JD.com, the giant Chinese retail company is on the watch after the company announced that its long time founder and CEO Richard Liu was stepping down from the active day-to-day operations of the company. The company announced that Xu Lei, previously CEO of JD Retail, will assume the role of the company president. JD.com In share prices were up 2.77% on the Hisa App by the time of this release at $82.06
What else are we collecting?
Healthcare Stocks - Investment firm Morgan Stanley earlier today downgraded several large-cap pharmaceutical stocks with the analysts terming the company’s upsides as “limited”. Some of the companies included Johnson & Johnson [NYSE: JNJ] which has been on the edge of developing and supplying the covid-19 vaccines.
Tech Stocks - With weeks of unconfirmed rumours that tech stocks were designing their own chips (not fries you), Facebook [NASDAQ: FB], Apple [NASDAQ: AAPL] & Tesla [NASDAQ: TSLA] have set the ball rolling and they will now develop their own chips.
While they are yet to get into the manufacturing of the chips, the top tech companies could be looking at the acquisition of chip manufacturing companies.
The move could be a blow to Taiwan’s Semiconductor Manufacturing Company Limited [NYSE: TSMC] which is listed on the New York Stock Exchange (NYSE).
How about you, what stocks are you watching today? Let us know on the Hisa App
Disclaimer: This is not an investment recommendation, investors and the general public are advised to do their own research before investing in any security.