Shares of Bumble (NASDAQ:BMBL) rose 3.1% as strong U.S. retail sales data boosted consumer-focused stock sentiment. U.S. retail sales increased by 0.6% in June, indicating robust consumer spending, a positive sign for Bumble’s revenue from subscriptions and premium features. The stock closed at $6.91, up 0.4%. The ongoing earnings season started strong, with 88% of S&P 500 companies exceeding expectations. Bumble’s shares are volatile, with 28 moves over 5% in the past year, showing the market’s reaction to news. Bumble recently announced cost-saving measures and raised its second-quarter forecast, focusing on profitability and efficiency.

Bumble’s stock rose 3.1% after strong U.S. retail sales data, indicating robust consumer spending. The company relies on consumer confidence for revenue from subscriptions and features. The ongoing earnings season started strong, with 88% of S&P 500 companies exceeding expectations. Bumble’s shares are volatile, with 28 moves over 5% in the past year, showing the market’s reaction to news. Bumble recently announced cost-saving measures and raised its second-quarter forecast, focusing on profitability and efficiency.

Read more at Barchart: Bumble (BMBL) Stock Is Up, What You Need To Know