Solo Stove Maker Plunges 64% on Going Concern Warning (1)

(Adds stock move, going concern notice, analyst downgrade and comments)

Solo Brands sank as much as 64% to a record low of 23 cents a share after the maker of firepits, kayaks and paddle boards reported weak 4Q results and said there’s substantial doubt about its ability to continue as a going concern. Canaccord cut its rating on the stock to hold from buy.

• The owner of Solo Stove, Oru Kayak and ISLE, which benefited from demand for outdoor-lifestyle activities during the pandemic, has seen annual revenue decline two years in a row
  • Since going public in late 2021, shares ...