Beachbody set to open at record low after Guggenheim downgrades to 'neutral'

Beachbody

16/11/2021 12:58

** Fitness provider Beachbody  BODY.N  falls 26% premarket
and is set to hit an all-time low of $3.45 at the open
    ** Shares tumbled nearly 21% on Monday after co missed Q3
revenue expectations and cut its FY sales forecast  urn:newsml:reuters.com:*:nL4N2S64UY
    ** Guggenheim downgrades to "neutral" from buy", citing a
challenging near-term backdrop for the company and uncertainty
over how long the headwinds would last
    ** Brokerage sees temporarily tepid demand for at-home
fitness services, higher-cost and less efficient media spending,
as well as product delays as headwinds for BODY
    ** Shares are down 12% this month
    

 (Reporting by Anisha Sircar in Bengaluru)
 ((Anisha.Sircar@thomsonreuters.com;))