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I would be curious as to who owns that company. What investment group?
Your question got me interested, so I took a look.
https://www.marketbeat.com/stocks/NASDAQ/MTCH/institutional-ownership/
https://www.marketscreener.com/quote/stock/MATCH-GROUP-INC-111381420/company-shareholders/
Conflicting answers on Vanguard's investment, they seem to have divested recently. But Blackrock is the largest at around 12%, all other companies with holdings are dwarfed by their share. Also, there's only one single person in the board + c-suite that's been there since before 2020. If I were more conspiratorial, I'd start drawing lines here.
1 - you are awesome. That is some decent research QUICK that I am not as inclined as you to do. 2 - glad you keep a level head. The lines turn into threads, and threads turn into full blown garments. And before you know it you have undone your own fabric of reality. Unable to stitch the tattered scraps back together...
Ask me how I know.
Be careful with institutional ownership as a metric, as many if not most companies that are publicly traded will have high percentages of institutional ownership. Blackrock and Vanguard, for example, have many, many Mutual Funds and Exchange Traded Funds that are part of normal retirement savings practices without there being anything shady going on.
MTCH fell out of the S&P 500 earlier this year which may be why Vanguard divested some going off what new_world_odor said. I can't get searches to exactly line up on which iShares (the Blackrock ETF side of their house) hold MTCH. There are some funds that have charters about how they'll track an index, so when it fell out of the S&P 500 those funds had to get rid of it or shift those shares internally.
I wonder why they had such a huge drop, though. It looks like their stock shot up during COVID and is kind of falling back down to "historical" levels for something that went public in 2015.