Beachbody (NYSE:BODY) IPO: How to buy this fitness stock?
The Beachbody Company, a California-based fitness enterprise, debuted on Monday, June 28, through a merger with blank check firm Forest Road Acquisition Corp on the New York Exchange (NYSE). Stocks of Beachbody (BODY:US, NYSE:BODY) opened at US$ 13.15 per share and closed at US$ 12.74 apiece on Monday, June 28. Earlier, shareholders of the special purpose acquisition company (SPAC) voted on Thursday, June 24, to support the US$ 2.9-billion merger deal with Beachbody. The fitness firm has been around for more than two decades. It transformed its business operations to an online platform in 2017, which turned out to be a key catalyst for its success. Earlier in June, Beachbody CEO Carl Daikeler reportedly claimed that the company is one of the leading players in the fitness industry. Beachbody has 2.7 million active users on its digital platform. The company believes its customer base will expand by 10 to 30 times in a few years, led by its initial public offe...