David Tepper’s Appaloosa Management Sold These 5 Stocks Before Entering 2022

2. Beachbody Company, Inc. (NYSE:BODY)

Number of hedge fund holders: 14

Beachbody Company, Inc. (NYSE:BODY) lost almost 80% of its value in the past twelve months. The selloff in its share price is attributed to easing social distancing policies. Beachbody is a worldwide leading digital fitness and nutrition subscription company. David Tepper also sold its stake in the company during the December quarter. Moreover, market analysts have lowered their rating for the company amid near-term challenges. For instance, Guggenheim and Baird dropped their rating on Beachbody to Neutral from Buy. Out of the 924 hedge funds tracked by Insider Monkey, Beachbody was in 14 portfolios as of December.