Early Peloton Investor Sells a Big Block of Stock

[NewsFeeder]

Early Peloton Investor Sells a Big Block of Stock

A Wellington Management fund sold more than $100 million of shares of the maker of exercise bicycles. Peloton shares are below the IPO price, but the fund still made money.

https://finance.yahoo.com/m/f817173...8/early-peloton-investor-sells.html?.tsrc=rss

 

[Bullitt]

Comcast (10% owner) unloaded $155 million worth (half their stake) of PTON in mid-April.

Woodson Capital (hedge fund, 10% owner), piled another $5 million into PTON a few days before earnings.

A lot of money being made in PTON in 2020.

 

[Bullitt]

Who's going to want to ride a $2,500 bike indoors when it's 10x better outdoors?

Short sellers (in an already heavily shorted stock) will be jumping into the new downtrend as the weather has clearly broke. Big MACD turn and red candle. This was nothing more than a play on the forced shutdown.