Because of the spread of the novel coronavirus, socializing and dating activity just isn’t as active or as fun as it used to be. Or is it? Meet Group (NASDAQ:MEET) could be proving this thesis wrong with a new angle on interactive dating. This could ultimately be a big catalyst for MEET stock.
There’s also a collaboration with Match Group’s (NASDAQ:MTCH) Plenty of Fish app. This partnership could prove to be a game changer, not just for Meet Group investors but for the interactive dating market in general.
Do MEET shareholders have a date with destiny? And how is Meet Group’s new twist on interactive socializing different from the offerings we’ve seen in the past? Let’s take a closer look and see if the company’s latest collaboration is truly a match made in heaven.
MEET Stock at a Glance
When we look through the historical price action of MEET stock, the first thing we should observe is that the shares are capable of going much higher than their current price point. In fact, the stock touched the $10.50 level in October 2006 as well as the $13 level in January 2011.
Indeed, MEET stock is an ideal vehicle for what could be called range trading. This is where traders can buy the shares near the bottom of the stock’s historical price cycle. Then they can consider taking profits when the shares reach a reasonable profit target. This is a “rinse and repeat” type of strategy that can be implemented over and over.
In the case of MEET stock, you could start to accumulate the shares and anticipate a scaling-out target of $10. It might be wise to scale out fully at $13, since you would have practically doubled your investment by that point. Besides, the $13 area is the previous high mark for the stock.
Interactive Dating the in Age of the Pandemic
The coronavirus has changed many aspects of socializing. Meeting new people is difficult during a time when social distancing measures prevail. Besides, it’s more difficult to gauge people’s feelings and responses when they’re wearing masks.
Even amid a global pandemic, however, the need for togetherness is still present. The coronavirus cannot put an end to human nature and the need for connection. In that sense, MEET stock could be considered an all-weather investment.
That being said, providers of dating apps still need to adapt and adjust to the new, more restrictive social environment. Companies in this space must change or get left behind. Fortunately, Meet Group is addressing this need by pushing forward with the rollout of a fun and engaging new game.
Making It Fun Again
As reported in the company’s press release, Meet Group recently announced the rollout of an interactive game known as Blind Date. This will be an addition to Meet Group’s popular NextDate game, which “is like speed dating, except that there’s an audience and the contestant gets to choose the specific people they’d like to connect with,” according to CEO Geoff Cook.
The Blind Date game will be integrated into Meet Group’s MeetMe, Tagged and Skout mobile apps. Even better, it will also be integrated into Match Group’s ultra-popular Plenty of Fish dating platform.
As the press release describes the game, the streaming host will have “the ability to hear the contestant, not see them, and as the timed virtual date progresses, the contestant’s video becomes less blurred. The contestant is only revealed when the round approaches the end, or after the host chooses to ‘date’ them.”
This is an inventive way to make the whole dating and socializing process less intimidating and more enjoyable. Blind Date should serve to increase user engagement. Moreover, it could introduce Meet Group’s offerings to the massive pool of Plenty of Fish users.
The Final Word
It’s great to see that Meet Group found a way to gamify dating and thereby make it less intimidating. MEET stock could easily reclaim its former high point as the company’s innovative spirit could bring people back into the dating game once again.
Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system — with returns rivaling even Warren Buffett. In his latest feat, Louis discovered the “Master Key” to profiting from the biggest tech revolution of this (or any) generation. Louis Navellier may hold some of the aforementioned securities in one or more of his newsletters.