What Happened?

A number of stocks jumped in the afternoon session after a landmark Supreme Court decision struck down a significant portion of President Trump's tariff agenda. 

The court, in a 6-3 ruling, found that the executive branch lacks the constitutional authority to unilaterally impose such levies without involving Congress. Investors reacted positively to the news, interpreting the removal of these trade taxes as beneficial for corporate earnings and the broader economy. Major indices, including the S&P 500, Dow Jones Industrial Average, and the Nasdaq 100, all climbed following the announcement. The ruling alleviates concerns about trade disputes and potential retaliatory measures, fostering a more stable environment for international commerce and boosting overall market sentiment.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Gig Economy company Angi (NASDAQ: ANGI) jumped 4.3%. Is now the time to buy Angi? Access our full analysis report here, it’s free.
• Consumer Subscription company Bumble (NASDAQ: BMBL) jumped 4.9%. Is now the time to buy Bumble? Access our full analysis report here, it’s free.
• Consumer Subscription company Match Group (NASDAQ: MTCH) jumped 3.5%. Is now the time to buy Match Group? Access our full analysis report here, it’s free.
• Online Retail company Wayfair (NYSE: W) jumped 3%. Is now the time to buy Wayfair? Access our full analysis report here, it’s free.
• Online Marketplace company Shutterstock (NYSE: SSTK) jumped 3.6%. Is now the time to buy Shutterstock? Access our full analysis report here, it’s free.

Zooming In On Bumble (BMBL)

Bumble’s shares are extremely volatile and have had 30 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was about 1 month ago when the stock gained 3% on the news that President Trump cooled fears of a transatlantic trade war by calling off scheduled tariffs on European allies. 

The rally followed a productive meeting in Davos with NATO Secretary General Mark Rutte, where a "framework of a future deal" regarding Greenland and the Arctic region was established. By explicitly ruling out the use of military force and suspending the 10% tariffs previously set for February 1st, the administration provided the "sigh of relief" the market desperately needed after Tuesday's sharp sell-off. Technology and semiconductor leaders like Nvidia and AMD spearheaded the recovery as investors quickly pivoted back into growth stocks. The "Sell America" trade from the prior session reversed sharply, with the Nasdaq Composite jumping 1.5% and the S&P 500 erasing its 2026 losses. This rebound was further supported by a stabilization in the bond market; as tariff-related inflation fears subsided, the 10-year Treasury yield retreated from its recent highs, creating a more favorable backdrop for equity valuations across the board.

Bumble is down 16% since the beginning of the year, and at $3.04 per share, it is trading 64.5% below its 52-week high of $8.57 from July 2025. Investors who bought $1,000 worth of Bumble’s shares 5 years ago would now be looking at an investment worth $45.24.

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