Why Interactive Strength (TRNR) Stock Is Up Over 70%

Interactive Strength Inc TRNR shares are trading higher by 75% to $0.60 Monday afternoon after the company received a letter stating that the Nasdaq Hearings Panel granted its request for continued listing on the Nasdaq Stock Market.

The company had been non-compliant with Nasdaq’s minimum equity requirement but successfully appealed a delisting notice. The Panel has given TRNR until November 14, to meet the requirement.

TRNR’s CEO, Trent Ward, expressed optimism about regaining compliance by reporting third-quarter earnings and noted that, on a pro forma basis, the company would have met the equity rule for the quarter ending June 30, 2024, following a recent equity offering.

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Is TRNR A Good Stock To Buy?

An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like Interactive Strength‘s page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.

These are known as capital allocation programs. Interactive Strength does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.

Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on Interactive Strength will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.

According to data from Benzinga Pro, TRNR has a 52-week high of $71.20 and a 52-week low of $0.34.