Interactive Strength Inc. (NASDAQ:TRNR) shares are volatile Tuesday after the company announced an exclusive distribution agreement for CLMBR in the Gulf region with MEFITPRO.
The Details:
Interactive Strength said MEFITPRO placed a six-figure initial order that is expected to ship in the third quarter.
"The GCC countries are a huge growth opportunity for CLMBR due to the long-term GDP growth outlook and the increasing penetration of fitness in those countries. The countries are young and affluent, and are among the fastest developing markets in the world. MEFITPRO is the leader in the region and have done a great job for other brands such as TRX, Woodway, Fitbench and Wattbike, and we are excited to partner with them," said Trent Ward, CEO of Interactive Strength.
Interactive Strength shares spiked in premarket trading, but have since given back all gains and are down by nearly 20% at the time of publication. According to data from Benzinga Pro, the stock is trading well-below its 50-day moving average of $5.40 and marked a new 52-week low of $1.01 on Tuesday.
How To Buy TRNR Stock:
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Interactive Strength's case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
TRNR Price Action: According to Benzinga Pro, Interactive Strength shares are down 23.8% at $0.97 at the time of publication Tuesday.
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Image: Pete Linforth from Pixabay
