Why The Beachbody Company Stock Plunged 50% in November
Shares of The Beachbody Company (NYSE: BODY) plummeted 50.6% in November, according to data from S&P Global Market Intelligence. This compares with the S&P 500 index's 0.8% decline last month. The primary catalyst for the subscription fitness and wellness company stock's drop was its release of a weak third-quarter report, which included a significant reduction in full-year guidance.
Since Beachbody went public on June 28 via a special acquisition purpose company (SPAC), its shares have plunged 80%, as of Dec. 6. The S&P 500 index has returned 7.9% over this period.
Source Fool.com
