By Josh Beckerman
Shares of Solo Brands, which previously warned about its ability to continue as a going concern after being hurt by tariffs, were suspended from the New York Stock Exchange.
The NYSE said it is seeking to delist Solo due its low share price. The stock, halted Tuesday morning due to news pending, last traded at 9.4 cents, down 7.9%.
New U.S. tariffs have driven up costs for the Solo Stove which is made mostly in China.
Solo's outdoor and apparel brands include Solo Stove, Chubbies, Isle and Oru.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
By Josh Beckerman
Shares of Solo Brands, which previously warned about its ability to continue as a going concern after being hurt by tariffs, were suspended from the New York Stock Exchange.
The NYSE said it is seeking to delist Solo due to its low share price. The stock, halted Tuesday morning due to news pending, last traded at 9.4 cents, down 7.9%.
The outdoor and apparel products company expects its shares will trade on the OTC Pink Market. It said the change won't affect its business operations or Securities and Exchange Commission reporting obligations.
New U.S. tariffs have driven up costs for the Solo Stove which is made mostly in China. The company's other brands include Chubbies, Isle and Oru.
"These new tariffs and retaliatory actions by foreign governments are expected to have a significant adverse effect on our results of operations and margins and sales of our products outside the U.S.," the company said in March.
In November, Solo reported a 15% decline in third-quarter sales, to $94.1 million, noting the "challenging macroeconomic backdrop for big ticket consumer durable items." Fourth-quarter sales fell 13% to $143.5 million.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
April 22, 2025 18:24 ET (22:24 GMT)
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