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Bumble soars as growth outpaces Match

Bumble, owner of the eponymous dating app that lets women make the first move, jumped Thursday after posting stronger-than-expected profits and sales, thanks to an increase in paid users.

The company’s numbers suggested it is gaining ground on its much larger rival Match Group, the owner of Tinder, whose ranks of paid users have shrunk slightly of late.

For the record, the growth of paid users at LGBTQ+ friendly dating app Grindr Inc., has been faster than both Match and Bumble. Grindr reported paid user growth of 17% after the close on Thursday, though it has just 1 million paid users, compared to 4 million for Bumble and nearly 15 million for Match.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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