What happens when Instagram success meets a market meltdown

Once a London stock exchange darling, THG Plc's efforts to push beyond being an e-commerce to a tech firm proper has seen the company's stocks dropping precipitously. — REUTERS

THG Plc Founder Matthew Moulding had reason to boast in February when he declared on Instagram that he had logged "500 consecutive days of making it into the gym.”

He had plenty of other milestones to celebrate, too, including becoming a billionaire thanks to THG’s initial public offering in 2020. The company’s shares were trading near a recent record high, with customers and investors alike impressed by THG’s focus on products – such as makeup and fitness supplements – which have become wildly popular with social media users.