Money
Australian fitness giant’s late $2B sprint into Wall Street
Australian founded F45 Training will have their hearts racing after a huge listing on the New York Stock Exchange on Thursday (US time)
The group rose as much as 11 per cent and then lost most of those gains in its trading debut after a $US325 million ($438 million) initial public offering.
The company is now valued at $US1.46 billion (AUD$2 billion)
F45 and an investor that includes Mark Wahlberg sold more than 20 million shares for $US16 each Wednesday after marketing them for $US15 to $US17.
The company had an uneven debut, opening at $US17 before falling below $US16. However, in a late sprint, it closed the day at $US16.20, a gain of 1.3 per cent on the offer price.
The listing was delayed by the coronavirus pandemic and then sidetracked by a blank-check merger deal that fell apart.
Adam Gilchrist, F45’s chief executive officer, said in a joint statement at the time that the “prolonged uncertainty around the pandemic” kept the combination from being completed.
Wahlberg invested in F45 through a private investment vehicle called MWIG LLC, which sold almost 1.6 million shares in the IPO.
Wahlberg owns about 26% of the membership interest in MWIG, according to F45’s filings.
The fitness chain also lists Earvin ‘Magic’ Johnson, Jr, David Beckham, Greg Norman and Cindy Crawford as backers.
What is F45?
F45 Training has jumped six spots to #13 on Entrepreneur’s list of Fastest Growing Franchises for 2020.
F45 started from one gym in Australia in 2013 and its franchises offer 45-minute functional high-intensity interval and circuit training classes based on a motto of “no mirrors, no microphones, no egos”.
In the past several years, F45 has opened studios in over 48 countries, spreading its wings into untapped markets throughout the world. The fitness chain now has 1555 outlets around the world.
Franchisees are given a turnkey model, as well as support from F45 Training Headquarters in Los Angeles, CA.
Australian low-cost online brokerage firm Stake has seen a surge of interest from local investors wanting to buy shares in F45 upon its listing. “[F45] started around the corner from our offices in Paddington, it’s a great Australian story,” Stake co-founder Matt Leibowitz told The Age.
“A lot of people go to F45 and have probably used it. It is one of the more popular listings and it is one that people understand as they have touched and felt it.”
F45’s revenue fell by 11 per cent in 2020 to $82.3 million, but the fitness chain did not take as big a hit from the pandemic as expected.
Money
Australia’s inflation report and Nvidia earnings impact explained
Australia’s inflation report sparks market shifts, influencing interest rates, the Aussie dollar, and investor sentiment amid Nvidia’s earnings.
Australia’s inflation report sparks market shifts, influencing interest rates, the Aussie dollar, and investor sentiment amid Nvidia’s earnings.
Australia’s latest inflation report is creating waves across the market, with questions about interest rates, the strong performance of the Aussie dollar, and the uneven nature of the stock market rally. Investors are watching closely as changes in carry trade risks this month add another layer of complexity.
David Scutt from StoneX discusses what these shifts mean for trading strategies and the broader economic outlook. He provides insight into how underlying factors are shaping investor confidence and market dynamics.
On the tech side, Nvidia’s upcoming earnings are expected to influence AI development and the broader tech sector. Coupled with trends in SaaS and bitcoin price action, these movements are signalling how investor sentiment is evolving in a fast-changing landscape.
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#AustraliaEconomy #InflationReport #AussieDollar #NvidiaEarnings #AIInvesting #StockMarketNews #BitcoinTrends #SaaSInsights
Money
U.S. stocks rally as AMD, Home Depot, and AI software lead gains
U.S. equities rose as AI disruption fears eased, with Home Depot, AMD, and DocuSign driving tech stock gains.
U.S. equities rose as AI disruption fears eased, with Home Depot, AMD, and DocuSign driving tech stock gains.
U.S. tech stocks surged as investors’ fears over AI disruption eased. Advanced Micro Devices jumped 9% after Meta announced a multiyear deal to deploy AMD’s graphics processing units for AI data centres. The move highlights growing corporate confidence in AI infrastructure investments.
DocuSign also rose 3% following Anthropic’s confirmation that Claude Cowork can integrate with DocuSign, Google Drive, and Gmail, signalling stronger adoption of AI tools across industries.
The iShares Expanded Tech-Software Sector ETF climbed 2% despite remaining over 30% below its 52-week high, showing tech stocks are recovering but still have room to run.
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Money
Stocks tumble amid AI concerns and Trump tariff update
Dow drops 800+ points as AI and trade worries hit tech and retail stocks; bonds rise amid market volatility.
Dow drops 800+ points as AI and trade worries hit tech and retail stocks; bonds rise amid market volatility.
Stocks plunged sharply as concerns over artificial intelligence and trade tensions rattled investors, sending the Dow down more than 800 points. Heavyweights like American Express, Goldman Sachs, and JPMorgan were key contributors to the drop.
Software companies were hit particularly hard after a report suggested AI could impact economic growth, triggering further losses across tech shares.
Trade-sensitive retailers including American Eagle Outfitters, Ralph Lauren, and Yeti Holdings also faced setbacks as market uncertainty spiked. Bonds, meanwhile, rallied as investors sought safety in a volatile market.
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