Market News

Forest Road’s Shareholders Approve Business Combination

Shareholders of Forest Road Acquisition (FRX) have approved the previously announced three-way business combination with The Beachbody Company Group and Myx Fitness Holdings. The deal is expected to close on June 25.

At a special meeting, 58.5% of Forest Road’s shareholders voted on the matter, with about 99.5% of the votes in favor of the deal.

Post completion of the deal, the combined company will be named The Beachbody Company, Inc., and its common stock is expected to trade on the NYSE under the new ticker symbol “BODY” from June 28.. (See Forest Road stock chart on TipRanks)

CEO of Forest Road Keith Horn said, “We look forward to supporting Beachbody as it furthers this mission as a public company, introducing many more people to its proven, at-home fitness and nutrition solutions.”

D.A. Davidson analyst Linda Bolton Weiser recently initiated coverage of the stock with a Buy rating and a price target of $14.50 (25% upside potential).

Weiser believes that the company’s overall health strategy and wellness solution, along with its aim to grow revenue at a CAGR of 30% by 2025 are tailwinds.

Consensus among analysts is a Moderate Buy based on 1 Buy and 1 Hold. The average Forest Road analyst price target of $12.75 implies upside potential of 10.6% from current levels.

Recent News:
Health Catalyst Snaps Up Twistle
GMS Delivers Blowout Q4 Earnings; Shares Rise 4.8%
Panasonic Sells Stake in Tesla for $3.6B – Report

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More
Videos
Videos

Latest News Feed