Peloton

[Bullitt]

What a disaster. The fitness industry is filled with fads and fly by night companies over the years though.

Now below IPO price of $29 from September 2019.

How long until Amazon or Apple decides to buy this company out?

 

[tsptalk]

No wonder the insiders were selling... Down 25% so far today.


Peloton to halt production of its Bikes, treadmills as demand wanes

Peloton is temporarily halting production of its connected fitness products as consumer demand wanes and the company looks to control costs, according to internal documents obtained by CNBC.

The company said in a confidential presentation dated Jan. 10 that demand for its connected fitness equipment has faced a “significant reduction” around the world due to shoppers’ price sensitivity and amplified competitor activity.

Peloton plans to report fiscal second-quarter results on Feb. 8 after the market closes.

https://www.cnbc.com/2022/01/20/pel...-of-its-bikes-treadmills-as-demand-wanes.html

 

[tsptalk]

Peloton insiders sold nearly $500 million in stock before its big drop, SEC filings show

Peloton executives and insiders sold nearly $500 million worth of their stock before its big decline, according to SEC filings.

Much of the selling started when shares surged past $80 in the fall of 2020. The sales gained momentum in 2021 as the stock held above $100.

John Foley, the CEO and co-founder, sold $119 million worth of stock starting in November 2020, according to SmartInsider. Others included the president William Lynch and Hisao Kushi, co-founder and chief legal and culture officer.

https://www.cnbc.com/2022/01/19/pel...00-million-in-stock-before-its-big-drop-.html