Bumble (BMBL), ACV Auctions (ACVA) Shares Plunge as Strong Payrolls Lift Yields Above 4.5%

Shares of digital platform companies Bumble (BMBL) and ACV Auctions (ACVA) tumbled on June 6, 2026, after a much stronger-than-expected U.S. jobs report pushed the 10-year Treasury yield past 4.5%, intensifying selling in high-multiple internet stocks. The May employment report showed 172,000 new jobs, more than double the 80,000 consensus, reinforcing the higher-for-longer rate narrative. The CME FedWatch tool began pricing a year-end rate hike for the first time this cycle, a shift that discounts long-duration cash flows embedded in internet valuations more aggressively. The selloff was valuation-driven, though higher rates also stoke concerns about consumer credit and discretionary spending on subscriptions. Bumble shares, which have been extremely volatile, traded at $2.84—down 21.7% year-to-date and 66.9% below their July 2025 high of $8.57. The decline offset an 8.8% gain the prior session after the dating app launched a paid group-dating feature in New York aimed at reviving user growth and revenue.