Below is a brief note from CEO Keith McCullough on why we're adding Match Group (MTCH) to the long side of Investing Ideas today:
Given the recent correction on FB fear, our Internet analyst, Hesham Shaaban, is going bullish on Match Group (MTCH). The stock is -5% today signaling immediate-term TRADE oversold within our Bullish @Hedgeye TREND view.
Here's an excerpt to Shaaban's Institutional Research note from this week:
"We don't see FB as a material risk, but it could remain an overhang on the stock until MTCH shows that it can maintain its current pace of sub adds after FB's dating service goes live. In the interim, we believe 2018 guidance/estimates are relatively conservative, even before considering any product enhancements that the company plans to launch later this year."
Buy on red,