3 days ago
Matt Moulding's THG set for FTSE demotion
One of Britain's most outspoken businessmen faces a humiliating blow next week as his business is in line to be knocked out of the high-profile FTSE 250 index after a share price slump.
Matt Moulding could see his company THG, formerly known as The Hut Group, demoted after being included in the index for just three months.
The online retailer, which sells products including protein powder and cosmetics, joined the ranks of the FTSE 250 in March.
The potential demotion follows a 95 per cent share price slump since its 2020 float, valuing the online retailer at just £344 million, a far cry from initial hopes of it rivalling £1.6 trillion tech giant Amazon.
Moulding has seen his personal stake plummet from £493 million to just £24 million.
A prolific social media user, he has openly blamed the press and the London stock market for THG's poor performance, describing the listing experience as having 'just sucked from start to finish' and the market as a 'barren wasteland'.
The final decision on THG's FTSE 250 status hinges on its share price at the market close on Tuesday.
