Reported 2 months ago
Bumble's shares fell 35% after the company revised its annual revenue growth forecast from 8%-11% to just 1%-2%, heightening worries about its business turnaround efforts. The app plans to slow down certain monetization strategies, including the delayed expansion of its Premium Plus subscription. Analysts noted that, despite a recent app relaunch, user engagement did not translate into new users or increased spending, leading to a downgrade of the stock's recommendation.
Source: YAHOO