Neutral/Negative Catalysts
- Earnings/news-driven breakdown: Q2 results showed large YoY deterioration and revenue miss, triggering the sharp selloff.
- Core business pressure: Net revenue down 27.8% YoY due to falling MindBody GLP-1 system sales.
- Inventory/quality of earnings: $2.4M reserve against GLP-1 inventory points to demand/forecasting issues.
- Insider selling is surging (up 568.25% last month), reinforcing negative near-term sentiment.
- Options market positioning heavily skewed to puts (OI PCR 7.44), indicating traders anticipate/hedge further downside.