Match Group (MTCH) plunged by 17.87% in yesterday’s trade after markets reacted to its quarterly results. Match Group AOI is not performing well. The firm will take a $7 million charge for employee severance costs. In addition, it is accounting for the Canada Digital Services Tax burden.
MercadoLibre (MELI) lost 16.21% after posting Q3 results. The e-commerce giant reported a 35.1% Y/Y rise in revenue, to $5.31 billion. GAAP EPS was $7.83, while gross merchandise volume increased by 14% Y/Y. Markets expected the firm to post higher profits. Still, the revenue growth is impressive.
MELI stock is likely down in response to Trump’s return to the White House. Markets expect protectionism in the form of tariffs and trade restrictions. America’s protectionist and isolationist policy will hurt international firms.
In the energy sector, APA Corp. (APA) lost 11.32%, continuing its yearlong downtrend. Despite an inexpensive forward P/E of 6.41 times, the stock dropped after the Q3 report.
APA posted revenue growing by 9.5% Y/Y to $2.53 billion. In Q4, it expects production to reach the highest level for the year. Still, it is curtailing production in the Permian Basin. APA stock is worth at least $30.
Short sellers hold a 5.13% short interest in APA.
