The Match dating app is shown on an Apple iPhone in an organized photo.
Andrew Harrer | Bloomberg | Getty Images
Shares of Match Group rose more than 8% after hours, following news that the company is joining the S&P 500.
Starting Sept. 20, the online dating company will replace Perrigo Company, which is scheduled to join the S&P MidCap 400, S&P Dow Jones Indices announced Friday.
Dallas-based Match Group owns several dating companies in addition to Match, including Hinge, Tinder and OKCupid. With after-hours earnings, Match shares have risen more than 50% since the company completed its IAC derivation in July 2020.
Earlier this week, CEO Shar Dubey told employees in a note that he would create a personal fund to support Texas workers and dependents affected by the latest state abortion law, CNBC reported .
Currently, the company’s market cap stands at more than $ 40 billion.