Parent of CycleBar, Pure Barre fitness studios sees shares whipsaw after CEO ousted, federal probe disclosed
Publishing timestamp: 2024-05-13 12:36:12
Summary
Xponential Fitness has suspended its CEO indefinitely and named an interim CEO, while also disclosing investigations by the U.S. Attorney's Office and SEC. Shares of the company have plummeted nearly 30% and its market cap is now below $500,000. The company's leadership is cooperating with the investigations and reaffirmed its full-year 2024 guidance.
Sentiment: NEGATIVE
Keywords: business news, life, piper jaffray companies, entertainment, xponential fitness inc, business, ceo,
Source: https://www.cnbc.com/2024/05/13/xponential-fitness-sees-stock-whipsaw-after-ceo-ousted.html