Markets
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Luke Kawa

Investors dump Match Group’s stock after disappointing sales outlook, CEO breakup

Shares of Match Group are coming unglued, down over 6% in the premarket after suggesting that it will struggle to meet analysts’ sales projections for this year.

Wall Street was penciling in 2025 revenues of a little over $3.5 billion for the owner of Tinder, Hinge, and OK Cupid, but the company said sales would likely range from $3.375 billion to $3.5 billion.

Management also announced that CEO Bernard Kim would be leaving his position and is being replaced by Spencer Rascoff. In his previous role, Rascoff focused on a more advanced phase in customers’ life cycle: getting people into homes as the CEO of Zillow, rather than getting them on dates.

The company said his focus would be to deliver the “advancements in AI-powered features and new product innovations” that they discussed at their Investor Day in December. Based on that presentation, AI still has some work to do on the romance front:

Match presentation
Screenshot from Match Group presentation

The company is under pressure from activist investors frustrated with its lackluster performance, one of whom (Starboard Value) has suggested that Match should go private if it can’t reverse its sluggish operational trends.

Shares had been on a tear in recent weeks heading into this report, but are still off roughly 80% from their 2021 peak.

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Nia Warfield, Luke Kawa
19h
US stocks end a down week with a gain

An up day but a down week for the benchmark US stock index.

Cowboy Riding Bucking Steer
markets
Luke Kawa

Crocs rises on new marketing campaign for HeyDude brand starring Sydney Sweeney


Sydney Sweeney has great... feet?

Shares of Crocs are rising after the footwear company’s HeyDude brand unveiled a new marketing effort starring actress Sydney Sweeney for its Austin Lift shoe line.

Sweeney’s controversial ad campaign for American Eagle spurred a massive jump in the denim maker’s shares, caught the attention of the president, and prompted “an uptick in customer awareness, engagement, and comparable sales,” per American Eagle’s management.

Sweeney was first announced as HeyDude’s global spokesperson in August 2024, and doesn’t seem to have given the brand a major boost so far.

Max Knoblauch
23h

Ford and GM reach 52-week highs as EPA seeks to repeal emissions rules

Shares of Ford and GM are each trading at 52-week highs on Friday, as investors pile into gas-powered US automakers with the looming end of the EV tax credit and the Trump administration’s potential repeal of vehicle emissions standards.

A lobby representing Ford, GM, and nearly all other major automakers has expressed support for the EPA’s proposal to repeal the long-standing endangerment finding that declared greenhouse gases a threat to human life. The finding provides the legal foundation for the EPA to regulate vehicle emissions.

Yesterday, EV giant Tesla urged the Trump administration to keep the standards in place.

Friday afternoon saw Ford shares reach their highest level since July 2024, while GM’s stock hit highs not seen since January 2022.

Citi equity analysts on the key valuation issue facing the market.

Citi’s US market analyst on the key valuation test facing the market

“It kind of comes down to, what inning do you think we are in this AI game?”

Matt Phillips9/26/25
markets
Luke Kawa

GameStop surges as company offers promotions to boost launch of “Pokémon” Mega Evolution set

GameStop is jumping as the company offers promotions to boost interest for today’s North American launch of the Mega Evolution set of the “Pokémon Trading Card Game.”

Options activity is a little more tilted to the bull side than usual. Over the past month, a little less than four calls have changed hands for every put option. As of 10:22 a.m. ET, that ratio is over five to one.

It’s a big day for collectibles fans and gamers alike: beyond the “Pokémon TCG” drop, there are also new collections from “Yu-Gi-Oh!” and “Magic: The Gathering” being released and “EA SPORTS FC 26,” as well.

As we’ve written, “Pokémon” trading cards have been skyrocketing in value, and GameStop’s collectibles business has been accelerating. These are two sides of the same coin.

Mega Gardevoir... here I come!

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