Investors, some of whom paid $US16 per share in the July 2021 public float on the New York Stock Exchange, watched the stock hit a record low of just US7.26¢ last week.
In just two years, F45 has shrunk from a $US1.6 billion gym juggernaut with Hollywood star power to an $US8 million basket case which is being ejected this week from the most prestigious stock exchanges in the US.
“In the opinion of the exchange, the company’s common stock is no longer suitable for continued listing and trading on the NYSE,” it said in a statement that day.The stock has managed to lose more than 99 per cent of its value since listing on the NYSE while continuing to operate one of the hottest gym franchises on the market, with thousands of centres remaining open, and viable, across the globe.
Some of F45’s celebrity endorsements have soured. David Beckham and Greg Norman are suing the group for alleged non-payment.F45 did not reply to queries about the status of its financial accounts.
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