In 2020, it had listed on the ASX, but a series of factors including a Post-COVID e-commerce bust caused its share price to evaporate and it to go into a trading halt.

[10] In 2016, the company announced that it intended to list on the Australian Securities Exchange (ASX) with a $150 million initial public offering,[11] but this float was abandoned due to investor concerns about Amazon's 2017 expansion into Australia affecting the business.

[18] CEO Tony Nash sold $6 million worth of his shares on 6 December 2021, shortly before the company announced it was anticipating a drop in earnings.

[19] Amidst investor ire over the timing of this sale as well as plunging earnings, in May 2022 Nash announced that he would be stepping down from his role as CEO once a replacement had been found.

[20] However, in July, the company's board forced Nash to step down earlier than expected, appointing CFO Geoff Stalley as his interim replacement.

[23] From a high of $3 in August 2021, the company's share price steadily crashed to reach $0.17 by June 2022; Booktopia suggested this was due to a decline in business faced by online retailers after the lifting of pandemic restrictions.

[29] Writing in The Conversation, Australian academics Katya Johanson and Bronwyn Reddan cited competition from Amazon, increased operating costs, and a slump in book sales after the Covid boom as factors in the business's demise.