2023-03-30 11:55:01 ET
The appointment of celebrity actor and musician Mark Wahlberg to Chief Brand Officer prompted some good vibrations for F45 Training Holdings ( NYSE: FXLV ) stock on Thursday.
Investors in the Texas-based fitness chain felt more gain than pain on Thursday as the stock soared over 20% at the intraday peak, bolstered by both Wahlberg’s new role and the naming of a new CEO . Both appointments are immediately effective. Wahlberg has been a member of F45’s board since early 2019.
“Just like our incredible training community, F45 has been laser focused in recent months on getting stronger and stronger, and I am thrilled to help the company elevate its amazing brand and vision at this pivotal time,” Wahlberg said. “I am confident in our ability to enhance what I believe is already the world’s best workout for studio operators and our more than 300,000 committed members across the globe.”
Trading volume for F45 Training ( FXLV ) reached nearly double the daily average in midday trading. Short interest in F45 ( FXLV ) stands at about 26%, according to Seeking Alpha data.
Read more on why Seeking Alpha’s Quant team considers the stock a Strong Sell .
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Mark Wahlberg appointment pumps up F45 Training stock