PTON - Mark Wahlberg-backed F45 Training's stock sinks 15%+ as COVID fears hit gym stocks

Phillip Faraone/Getty Images Entertainment Mark Wahlberg-backed F45 Training (FXLV) plunged more than 15% Monday to drop below last week’s IPO price amid apparent waning enthusiasm for the stock, coupled with Wall Street’s jitters about whether renewed COVID-19 risks could affect the gym chain. FXLV, which went public last week at $16 a share and briefly popped 10% on its first trading day, sank to as low as $13.50 Monday. That’s down 16.1% for the session and 15.6% below the IPO price. The stock later recovered slightly, but was still changing hands at $13.52 at 3:45 p.m. ET, off 16% for the day and 15.5% from the initial public offering’s pricing. FXLV runs a chain of some 1,800 franchised fitness studios, and also has an online exercise component that it created in COVID-19’s wake. The company wrote in its S-1 filing with the U.S. Securities and Exchange Commission that the pandemic

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Mark Wahlberg-backed F45 Training's stock sinks 15%+ as COVID fears hit gym stocks