BUZZ-MediaAlpha slumps after downbeat quarterly forecast
Shares of insurance customer acquisition platform MediaAlpha MAX.N plunge as much as 23.9%; last down 20.4% at $9.08
MAX late Monday forecast Q1 transaction value to be between $415 million and $440 million
Brokerage J.P.Morgan says MAX's forecast was below the Street consensus of $495 million, a first since the auto insurance recovery began
The ongoing U.S. Federal Trade Commission investigation remains a headwind and expects MAX shares to trade at a discount until the overhang is resolved - brokerage
MAX management told analysts that auto carriers started 2025 on a more conservative note, as they don't know what lies in the year ahead
Still, MAX remains bullish on the auto insurance recovery and expects momentum to continue to build, as the year progresses
As of last close, MAX stock up 1.1% YTD
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