Stocks that are gaining momentum are often followed closely by many investors and for good reason too, considering the fact that there is always the chance of a significant breakout. One of the stocks to have gained momentum in recent days is that of Forest Road Acquisition Corp (NYSE: FRX).
The company came into focus among investors last week after it emerged that it was going to be involved in a three-way SPAC (special purpose acquisition company) merger with Myx Fitness and Beachbody. The new entity that is going to be formed following the merger is going to be known as The Beachbody Company. After the closure of the supposed deal, the Forest Road stock is going to continue to trade on the New York Stock Exchange.
While that may be the case, the ticker symbol is going to change to BODY. The combined company following the SPAC merger is valued at as much as $2.9 billion.
Editor and Computer Expert
A hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.