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LGBTQ Dating App Grindr Goes Public On The NYSE
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Grindr slips after earnings, revenue miss

Grindr reported revenue of $104.2 million, up 27% year over year but less than the $104.7 million analysts were penciling in.

J. Edward Moreno

Grindr dropped in after-hours trading after it reported earnings and revenue results that missed Wall Street expectations.

The company reported net income of $17 million, less than the $21.2 million analysts polled by FactSet predicted. Grindr reported revenue of $104.2 million, up 27% year over year but less than the $104.7 million analysts were penciling in.

The company fell more than 10% after reporting earnings. Grindr is up more than 60% in the past year. The company has fared better than its dating app peers, with its revenue generally growing year over year while companies like Match Group and Bumble struggle to spark growth.

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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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