By Chris Wack
Match Group shares were up 9%, to $37.47, after the parent of multiple dating applications said its chief executive bought shares and a new app was being introduced.
The stock hit its 52-week low of $30.73 on May 15, and is down 53% in the past 12 months.
Match said a Form 4 filing that Chief Executive Bernard Jin Kim bought 31,400 company shares at $34.44 a share. Kim now owns 48,500 Match Group shares.
On Thursday, the company said it launched Archer, a social-first dating app for gay, bisexual, and queer men. Match said Archer the app would be available in the New York City area this summer and would roll out nationally within the year.
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