The Gym Group has been hit hard by the cost of living crisis and inflation following a post-pandemic resurgence, as the group struggles to lead the market as a low-cost gym service.
David Elton, partner of investment management at Castlefield, said the group had a "rollercoaster start to 2023", with a "solid" trading update in January painting a positive picture for the firm, which added 28 new sites last year, the highest number ever in a single year. The firm hit a share price peak in February, rising 25.6% across December and January, but this shifted with the release of the group's annual results, which led to the firm's stock crashing to its lowest levels ever in March, falling 37.7%, according to data from MarketWatch. Keith Bowman, investment analyst at i...
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