BUZZ - Bumble's stock approaches a one-year high due to a $1.3 billion privatization deal

October 13 - ** Bumble (BMBL.O) shares surged 56.3% to $5.94

** Share price nears a one-year high and is set for its largest one-day gain

** The dating app (link) is about to go private through a $1.3 billion deal with Ithaca Holdings

** Reportedly, Ithaca co-founders Ravi Gupta and John Hegeman will serve as co-CEOs after the deal closes
** The move comes amid a decline in user numbers and shifting dating habits among Generation Z, factors that have pressured the online dating industry

** Of the 12 brokerages covering the stock, 11 rate it as “hold”; its median target price is $3.20 — Reuters (LSEG) compiled data

** Including today’s gains, the stock is up more than 66% year to date

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