🐝 Bumble Bubbles Up: Dating app Bumble is going public this week. The company was started by Whitney Wolfe after her tenure as the vice president of marketing at Tinder. She was considered a pivotal force behind the app’s success. She left in 2014, sued Tinder for sexual harassment, and started Bumble. In some ways, $BMBL is the ideological competitor to $MTCH, which owns Tinder and 21 other dating apps. The company has 100 million users worldwide.
🏠 Home is where the money is: We’ve seen a number of “new age” mortgage companies on the Rippers list due to the pandemic causing the housing demand to hit record highs. At IPO, Rocket Mortgage’s parent company captured attention before returning to its IPO price mere weeks later as investors moved to greener pastures. This week, we’ll be watching to see if the same trend pans out with LoanDepot. The mortgage seller will trade as $LDI when it goes public this week.
🏈 The Big (Betting) Game: In light of the Super Bowl, we’ll be watching U.S-based sports betting companies like DraftKings and Penn National Gaming. Late last week, sports betting ETFs like $BETZ started to creep up as investors anticipated record-high “legal” sports betting numbers. It’s untold if $DKNG or $PENN (which runs the Barstool Sportsbook) will release details regarding betting numbers during the big game, but we expect them to be beefy.