Company Overview - Traeger, a wood pellet outdoor grill manufacturer, has hit its 47th new 52-week low, indicating a decline in its market performance [1] - The company went public on July 29, 2021, with an IPO price of $18 per share, raising $424 million and valuing the company at $2.12 billion [2] - Currently, Traeger's market capitalization is approximately one-twelfth of its IPO valuation, placing its shares in penny-stock territory and at risk of delisting from the NYSE [3] Financial Performance - Traeger has experienced a significant decline in stock value, down nearly 50% in 2025 and 66% over the past year, raising concerns about its future viability [3] - In fiscal 2020, Traeger reported a 50% increase in sales to $546 million, which was higher than Weber's 18% increase to $1.30 billion [5] - Traeger was valued at a higher sales multiple of 3.9 times compared to Weber's 3.1 times, leading to an all-time high share price of $32.59 shortly after its IPO [5] Competitive Landscape - The outdoor grill market was favorable during the COVID pandemic, which boosted sales for companies like Traeger and Weber [4] - Weber, which went public around the same time as Traeger, had a significantly higher equity valuation of nearly $4 billion at its IPO [4] - Financial analysis indicated that Weber had a better financial health rating (75 out of 100) compared to Traeger's rating of 44, suggesting underlying financial weaknesses for Traeger [6]