Fogdog Sports (Nasdaq: FOGD) fell 1/4 to an all-time low of 2 Tuesday, which marked the end of the “lock-up period” barring insiders from selling their shares.
The Redwood City, California-based online sports gear retailer reported first quarter revenue of $4.7 million, up from $400,000 in the same quarter last year. The company posted a loss before charges of $9.8 million, or 27 cents per share.
Despite the company’s revenue growth, Fogdog shares have been on a more or less steady decline since the company went public in December at $11 per share. Two weeks ago, chairman Brett Allsop resigned, and board member Ralph Parks was named to succeed him (*correction).
*Editor’s Correction Note: In the original version of this article, we reported that Brett Allsop was named chairman of Fogdog Sports. In fact, Allsop resigned as chairman and was replaced by board member Ralph Parks.