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GRAPEVINE, Texas - Solo Brands, Inc. (NYSE: DTC; OTC: DTCB), a diversified lifestyle brand conglomerate, announced today its formal appeal against the NYSE Regulation staff’s decision to initiate delisting procedures for its Class A common stock due to "abnormally low" price levels. According to InvestingPro data, the stock currently trades at $0.75, having experienced significant volatility with a 52-week range of $0.36 to $1.33. This decision, made on April 22, 2025, led to the immediate suspension of trading on the New York Stock Exchange and shifted the company’s stock to the OTC Pink Market under the symbol "DTCB." Despite recent challenges, InvestingPro data shows the stock has gained over 41% in the past week, though it remains significantly below InvestingPro’s calculated Fair Value, suggesting potential undervaluation.
The company’s interim President and CEO, John Larson, stated, "We believe that the current trading price and market capitalization of Solo Brands does not reflect the value of the Company, and as a result, we have decided to appeal the decision of the staff of NYSE Regulation." He also mentioned that the company is considering a reverse stock split as part of its action plans to comply with NYSE listing standards.
While the outcome of the appeal is uncertain, Solo Brands remains listed on the NYSE during the appeal period, although trading will continue to be halted. The company has expressed its dedication to maintaining compliance with public company SEC regulations and other NYSE listing requirements throughout the process. InvestingPro’s Financial Health Score indicates "FAIR" status, though two analysts have recently revised their earnings expectations downward for the upcoming period.
Solo Brands, headquartered in Grapevine, TX, operates an omnichannel portfolio, including Solo Stove and TerraFlame, Chubbies, ISLE, and Oru Kayak, which offer a range of outdoor and apparel products. The company emphasizes its commitment to executing its strategic plans to enhance shareholder value and ensure financial stability.
The appeal comes at a critical time for Solo Brands as it navigates the challenges of maintaining its listing status on the NYSE. The forward-looking statements in the company’s press release highlight the uncertainties and risks involved, including the potential failure to regain compliance with NYSE listing requirements and the impact of the current trading halt.
This news article is based on a press release statement from Solo Brands, Inc. and aims to provide investors with the latest developments regarding the company’s efforts to address its delisting from the NYSE. For a comprehensive analysis of Solo Brands’ financial health, valuation metrics, and 14 additional key ProTips, investors can access the detailed Pro Research Report available on InvestingPro.
In other recent news, Solo Brands, Inc. has been notified by the New York Stock Exchange (NYSE) of the initiation of delisting procedures for its Class A common stock due to non-compliance with trading price rules. The company anticipates that its stock will begin trading on the OTC Pink Market, which may affect trading price and market efficiency. Solo Brands has also announced a change in its independent accounting firm, appointing BDO USA, P.C. as its new auditor, replacing Ernst & Young LLP. This transition comes as the company addresses material weaknesses in its internal control over financial reporting. Additionally, Solo Brands has appointed Peter Laurinaitis to its Board of Directors, aiming to enhance its financial strategy and oversight. Laurinaitis brings extensive experience in financial strategy, capital-raising, and restructuring advisory. Meanwhile, GoPro, Inc. has expanded its board by appointing Mick Lopez and nominating two additional candidates, Mike Dennison and Emily Culp, for election. Lopez’s background in financial governance is expected to benefit GoPro’s strategic direction.
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