Stock Spotlight: THG founder gives up golden share as takeover questions loom

Stock price fallen 89.4% since peak

Elliot Gulliver-Needham
clock • 4 min read

THG, formerly known as the Hut Group, has seen its stock price shoot up amid rumours of a buyout and founder Matt Moulding’s revoking of his ‘golden share’, which allowed him to block any attempt to takeover the company

The firm's stock price has fallen 89.4% since its peak in January 2021, according to data from MarketWatch, which occurred only months after its float in September 2020. Victoria Scholar, head of investment at interactive investor, explained there had been a number of high-profile listing "disasters", such as THG, which she said had specifically struggled with "disappointing financial results, corporate governance issues and the abandonment of its agreement with investor Softbank". Kelso Group increases its stake in THG amid takeover rumours However, the firm is up 80.6% year-t...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Companies

Ashmore Group suffers $2bn outflows as institutions slash EM exposure

Ashmore Group suffers $2bn outflows as institutions slash EM exposure

AUM drops by 5%

Valeria Martinez
clock 12 July 2024 • 1 min read
Premier Miton CEO bets on fund sales boost from falling rates as outflows slow

Premier Miton CEO bets on fund sales boost from falling rates as outflows slow

Multi-asset fund outflows continue to bite

Valeria Martinez
clock 12 July 2024 • 2 min read
GAM sells management company arm to Apex Group

GAM sells management company arm to Apex Group

UK, Luxembourg and Ireland operations

Cristian Angeloni
clock 11 July 2024 • 1 min read
Trustpilot