In an expected move, Traeger has received a notice from the New York Stock Exchange (NYSE) for being out of compliance of their listing requirements. It stems from Traeger’s stock price being under $1 for 30 days.

While it’s not a notice that any company wants to receive, it also doesn’t have an immediate impact on their listing on the exchange, or any implications on their liquidity. Traeger will have to take actions to correct it though or they risk being delisted.

It’s been a challenging year for Traeger, and most grill companies, with an uncertain consumer and the high tariff environment. Traeger reacted quickly by rolling out their Project Gravity strategy to reduce costs that should yield $50 million in annualized run-rate savings while preserving their ability to innovate and grow. They’re also making drastic changes to their selling model by eliminating direct-to-consumer selling on their website.

Those changes will help their business in the future, but it hasn’t helped their stock price return to previous levels. It dropped below $1 in October and it has stayed there, now trading at $0.79.

Once a company receives notice from the SEC for being out of compliance, there are certain rules they must follow to cure it. In a press release on the matter, Traeger summarized what they must do to remain listed.

 The Company can regain compliance at any time during the cure period if, on the last trading day of any calendar month, its common stock has a closing price of at least $1.00 per share and an average closing share price of at least $1.00 over the prior 30 trading-day period ending on the last trading day of the applicable calendar month or cure period. Under the NYSE’s rules, if the Company determines that it will cure the stock price deficiency by taking an action requiring shareholder approval at its next annual meeting, the price condition will be deemed cured if the price promptly exceeds $1.00 per share and the price remains above that level for at least the next 30 trading days.

Traeger Press Release on 11-24-25

Traeger notified the SEC of their intent to cure the deficiency, and mentioned the possibility of a reverse stock split. Solo Stove’s parent company, Solo Brands, received the same notice from the SEC earlier this year and successfully cured it through a reverse stock split.

When Solo Brands did their reverse stock split it was 40 to 1. The way it works is that for every 40 shares of of stock an investor has, it combines into 1 share, drastically increasing the value of that 1 share.

Doing a reverse stock split requires board approval. Given the importance of remaining listed, it’s very likely that Traeger’s board would approve the action.