Bumble Stock buzzing with new analyst coverage

No less than eight analysts have initiated coverage on the new public action

The actions of the dating application Bumble Inc (NASDAQ: BMBL) are down 3% to $ 59.79, after as many as eight analysts hedged the stock, which has only been publicly traded since mid-February. Some noteworthy are JP Morgan Securities and Goldman Sachs, which both started with a “neutral” rating, while BMO and Raymond James each started with a “market performance”. Meanwhile, Citigroup, one of many optimistic analysts, noted that online dating has long-term favorable effects such as lowering stigma, older marriages, and expanding the global middle class.

Although BMBL’s first day was a huge success – surpassing its initial public offering (IPO) by $ 43 – the stock has steadily dropped in the charts over the past few weeks. Despite today’s pullback and Friday hitting a record low of $ 57.53 during intraday trading, the stock managed to break its three-day losing streak as Friday’s session drew to a close. .

Although in a light absolute volume, in the last 10 days 2.12 calls were bought for each put option on the International Securities Exchange (ISE), Cboe Options Exchange (CBOE) and NASDAQ OMX PHLX (PHLX). Today, BMBL sees the same preference for calls, but with double the usual call volume typically seen at this stage. So far, 747 calls have crossed the strip, compared to just 84 bets. The March 70 call is the most popular, followed by the April 70 call.

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