FRX - Forest Road Acquisition Corp. soars on Beachbody deal and launch of sister SPAC

Special purpose acquisition company Forest Road Acquisition Corp. (FRX) soared more than 40% Friday amid continued enthusiasm for its deal to acquire The Beachbody Company and Myx Fitness, along with word that its founders are launching a second SPAC.FRX rose to as high as $17.33 in morning trading, up 40.7% on the session. Although it later pulled back, the stock was still ahead 25.2% shortly after 1:30 p.m. ET at $15.33 on strong volume.Forest Road was apparently rising partly on word that its founders, former Walt Disney Co. executives Kevin Mayer and Thomas Staggs, plan to raise some $300M through an initial public offering for Forest Road Acquisition Corp. II, their second SPAC.Forest Road Acquisition Corp. II (FRXB) will include the involvement of famed former NBA player Shaquille O'Neal and Martin Luther King III, son of the slain civil-rights leader.FRX has also been rallying ever since announcing plans earlier this

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Forest Road Acquisition Corp. soars on Beachbody deal and launch of sister SPAC