Diamonds and Dogs
Bumble (BMBL) one of the few stocks trading higher. The online dating site is up 23% following earnings. Earnings easily beat as sales rose 23% to $211.2 million as more people paid for the dating app in the latest quarter. The number of paying users exceeded three million, with 134,000 mew users in the first quarter, versus 108, 000 in the fourth quarter. Thanks to the pandemic, a recent survey showed 1 in 4 single users want to start a family and make up for lost time.
Apple (AAPL) could be the last stock to fall. Apple, which has been holding up well, is down 5% today and down 10% this week. Google is introducing a Pixel watch to compete with the Apple Watch. Apple's Chinese manufacturer, Foxconn is warning of a cooling in smartphone demand. The COVID lockdowns in China have not helped.
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