Match Group Joins Nasdaq-100 Index For Actively Traded Stocks
Match Group has been added to the Nasdaq-100 Index, a list of the most actively traded US companies listed on the Nasdaq stock exchange.
The dating company is entering the index with five other major companies, including virtual cycling business Peloton Interactive, and software firm Marvell Technology.
The introduction of Match Group pushes travel giants Expedia, another former IAC subsidiary, out of the top 100.
Match Group, which separated from parent IAC earlier this year, received more traction this year as people look for digital alternatives to traditional dating at restaurants or bars.
Sales rose 18% during the recent third quarter compared to 12% in the second. Adjusted EBITDA also increased 21% compared to the previous 13%.
Shares of the company are up more than 35% in the past three months, outpacing the gains of the overall Nasdaq-100 by more than three times.
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