Solo Brands has been warned by the New York Stock Exchange (NYSE) that it’s not in compliance with the exchange.
The warning came on Feb. 25 after Solo’s Class A common stock, listed under the ticker symbol DTC, closed at an average below $1 over 30 consecutive trading days, according to a news release.
Grapevine, Texas-based Solo Brands is home to Solo Stove, Chubbies, Oru Kayak, and ISLE brands.
It has six months to regain compliance with the minimum share price requirement. It has 10 business days after receiving the notice to communicate how it plans to regain compliance. One option is a reverse stock split.
DTC shares will continue to be listed and traded on the NYSE in the meantime.
Solo Brands CEO Chris Metz recently stepped down from the role after one year on the job. Board member John Larson was named interim CEO.
Solo Stove made headlines over the past two years for its viral marketing campaign featuring rapper and entrepreneur Snoop Dogg that failed to drive conversions. Solo Stove tweaked the campaign in August 2024 in an effort to increase conversions.
