Solo Brands

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.