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Parent of CycleBar, Pure Barre fitness studios sees shares whipsaw after CEO ousted, federal probe disclosed - TL;DR CNBC

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

Tickers: XPOFPJC

Keywords: business newslifepiper jaffray companiesentertainmentxponential fitness incbusinessceo

Source: https://www.cnbc.com/2024/05/13/xponential-fitness-sees-stock-whipsaw-after-ceo-ousted.html


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