Delisted from NYSE (2025) after a going-concern warning; trades OTC
Live · SBDS· OTC Markets OTCQB
as of 2026-09-17
$2.83▼ 15.32% today
≈ $7.27 Million market cap · −99.4% from peak
The rise & fall
8 moments · 2011–2025
The key moments.
2011
🌱
2011
The Solo Stove lights up
Brothers Jeff and Spencer Jan start selling a camp stove; the smokeless backyard fire pit that follows becomes a pandemic phenomenon.
Wikipedia
Oct 2021
📈
Oct 2021
The peak: a $1.2B NYSE debut$1.2B
IPOs at the exact top of the backyard-economy boom.
Fortune
2022
💔
2022
Slips out of the club
Pandemic-era demand cools fast, and the stock never sees $1B again.
PitchBook
Nov 2023
Nov 2023
The Snoop Dogg gambit
A viral “Snoop goes smokeless” campaign wins headlines — and, the company later admits, almost no sales.
Fortune
2025
2025
Substantial doubt
A $358M goodwill writedown precedes a going-concern warning as sales and margins keep shrinking.
Fortune
2025
2025
Kicked off the Big Board
Delisted from the NYSE after a ~99% slide; the shares land on the OTC market as SBDS, worth about $11M by 2026 — roughly 1% of the IPO.
Fortune
Today
Today
Still in the club — and still trading
Live · SBDS · OTC Markets OTCQBas of 2026-09-17
$2.83▼ 15.32% today≈ $7.27M cap · −99.4% from peak
How it happened
Solo Brands rose on the viral success of the Solo Stove — a smokeless backyard fire pit — and rolled up other direct-to-consumer brands like Chubbies and Oru Kayak before going public on the NYSE in October 2021 at about a $1.2B valuation.
Demand for its pandemic-era products faded fast, a celebrity-fronted marketing push flopped, sales and margins shrank, and the company took a $358M goodwill writedown. After warning of substantial doubt about its ability to continue as a going concern, the stock collapsed roughly 99% and was delisted from the NYSE in 2025, leaving it an OTC micro-cap.
Source: Fortune / Retail Brew / PitchBook (~$1.2B IPO valuation Oct 2021 on NYSE as DTC; ~99% decline; going-concern warning; delisted to OTC as SBDS, 2025; ~$11M market cap by 2026)
Founders & leadership
John Merris
President & CEO who took Solo Brands public in 2021 (peak); departed Jan 2024
Now Partner and EVP at Equipment Preference, Inc. (EPI Kitchen) · LinkedIn ↗
SJ
Spencer Jan
co-founder of Solo Stove (found the manufacturer from Shanghai while his brother ran logistics from a Dallas garage)
