There are genuine hopes that a late surge in its share price might have saved THG’s spot on the FTSE 250.
The online retailer’s share price closed on Tuesday at 27.90p, giving it a market cap of £388m.
The figure represents a significant recovery from Monday’s share price of 23.56p.
It’s thought THG’s market cap needed to stay above £375m to avoid being relegated to the Small Cap Index, although this has not been confirmed to BusinessCloud.
THG’s market cap is higher than fashion brand ASOS, which currently stands at £377.68m.
A final decision is due today (Wednesday) when the next FTSE index review is revealed, based on Tuesday’s closing market prices.

One analyst BusinessCloud spoke with said he was increasingly bullish about THG prospects of remaining on the FTSE 250.
If THG does manage to retain its place on the FTSE 250 it would represent the stock market equivalent of the Great Escape.
The online retailer’s position in the prestigious list, which is made up of the 101st to 350th mid-cap companies listed in the London Stock Exchange, had appeared to be hanging by a thread.
According to data from FTSE Russell, THG was put at risk of losing its place alongside Bellevue Healthcare Trust and Mobico Group. They were set to be replaced by Avon Technologies, Gamma Communications and Wickes Group.
At the start of trading on Monday, THG’s share price was 24.20p, giving it a market cap of £335m – which is thought to have been less than the level needed to stay on the FTSE 250.
One analyst previously told BusinessCloud that a 10 per cent uplift in its share price would probably be enough to keep it in the FTSE 250.
In the last two days THG’s share price has increased by around 16 per cent – taking its market cap above £375m.
THG was only included in the FTSE 250 Index in March alongside Hiscox and Atalaya Mining Cooper and the quarterly FTSE index review is based on changes to market cap.
In March, THG’s founder and CEO Matt Moulding hailed the company’s inclusion as an ‘important moment in THG’s evolution’ following the demerger of THG Ingenuity.
The move was seen as an important step in raising the company’s visibility and opening up stock to index investors and active mid cap index investors.

FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide.
THG is a global eCommerce group headquartered in Manchester, operating through two leading consumer businesses: THG Beauty and THG Nutrition.
THG’s share price at the time of its 2020 IPO was 500p.