Technology

Match shares soar on news it will join S&P 500

In this article

The Match dating application is displayed on an Apple iPhone in an arranged photograph.
Andrew Harrer | Bloomberg | Getty Images

Shares of Match Group rose more than 8% after hours, following news that the company is joining the S&P 500.

As of Sept. 20 the online-dating company will replace Perrigo Company, which is slated to join the S&P MidCap 400, S&P Dow Jones Indices announced in a release Friday.

Match Group, which is based in Dallas, owns several dating companies in addition to Match, including Hinge, Tinder and OKCupid. With the after-hours gains, Match shares are up more than 50% since the company completed its spinout from IAC in July 2020.

Earlier this week, CEO Shar Dubey told employees in a memo that she would create a personal fund to support Texas workers and dependents affected by the state’s latest abortion law, CNBC reported.

The company’s market cap currently stands at more than $40 billion.

Articles You May Like

G-7 leaders to set up a ‘Climate Club’ and take immediate action to secure energy supply
Virgin Orbit Rocket Launches 7 US Defense Department Satellites
Reaction to Dominic Cummings’ claims over the coronavirus pandemic
Biden opens the possibility of more offshore oil drilling in the Gulf of Mexico
‘My heart broke for the little girl I used to be’: Abortion ruling deepens divisions in small-town America