Why Did TRNR Stock Plummet 32% Today?

• The move has been made to help the company meet the $1 minimum bid price requirement for continued inclusion on the Nasdaq Capital Market.
• Directors approved the final 1-for-10 ratio earlier this month.
• Following the transaction, the number of outstanding shares will shrink from roughly 14.3 million to about 1.4 million.

Interactive Strength Inc. (TRNR) said on Friday that it will consolidate its outstanding shares in a bid to shore up its Nasdaq listing status.

The company disclosed plans for a 1-for-10 reverse stock split that will take effect February 24, with shares continuing to trade under the ticker “TRNR” but carrying a new CUSIP number.

Aimed At Nasdaq Compliance

The company said the move is designed in part to help the company meet the $1 minimum bid price requirement for continued inclusion on the Nasdaq Capital Market.

Shareholders previously authorized the board to implement a reverse split at the company’s annual meeting on Sept. 26, 2025. Directors approved the final 1-for-10 ratio earlier this month.

Interactive Strength stock tumbled over 32% on Friday, after the morning bell. On Stocktwits, retail sentiment around the stock remained in ‘extremely bullish’ territory amid ‘extremely high’ message volume levels.

Impact On Share Count 

Following the transaction, the number of outstanding shares will shrink from roughly 14.3 million to about 1.4 million. Every 10 shares held before the effective date will be converted into one share. 

The company said it will make corresponding adjustments to equity awards, warrants, and incentive plans to reflect the new share count and added that the total number of authorized shares and the stock’s par value will remain unchanged.

Interactive Strength owns several fitness brands like Wattbike, CLMBR, and FORME that blend specialized equipment, digital technology, and interactive content to create workout experiences for gyms and home users.

On Sunday, the company said it has acquired game-based connected fitness company, Ergatta. Upon full achievement of certain earn-outs, the company's maximum enterprise value would be $19.5 million.

TRNR stock has declined by over 97% in the last 12 months. 

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