Below is a note written by CEO Keith McCullough on why we're removing Match Group (MTCH) from the long side of Investing Ideas today:
I’ll book the win on Match Group (MTCH) with the stock +3% today and signaling immediate-term #overbought within a Sector Style (the Social Media sub-sector of Tech) that is starting to deteriorate as we head into the 1st surprise phase of US GDP #GrowthSlowing (our US GDP forecast for Q3 is below Wall Street’s for the first time in almost 2 years).
Happy to revisit this idea at a lower price. No one ever went broke booking gains.
***No change to Internet & Media analyst Hesham Shaaban's fundamental long thesis on Match Group. Click here to read our analyst's original report. The stock is up +20% since we added it to the long side of Investing Ideas.