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

Stock price fallen 89.4% since peak

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...