Why Beachbody Company Shares Are Ripping Higher During Tuesday's Session

Beachbody Company Inc BODY shares are trading higher by 11.59% to $0.62 Tuesday afternoon after the company reiterated its fourth-quarter outlook.

What Else?

"We are pleased with the cost transformation progress that we have achieved thus far, putting a strong management team in place and delivering positive returns on marketing spend. Our market presence remains strong and we continue to generate demand through compelling content," said Carl Daikeler, Beachbody's Co-Founder, Chairman, and Chief Executive Officer.

See Also: Why Urban Outfitters Shares Are Shooting Higher

"We are extremely confident in the future of the business. Between our reinforced liquidity position and our cost reductions, we are on track to achieve our expected results," Daikeler stated.

According to data from Benzinga Pro, Beachbody Company has a 52-week high of $2.47 and a 52-week low of $0.50.