Peloton may be toast
CNN
Peloton had a disastrous 2021. But as impossible as it may seem, the exercise equipment company is arguably off to an even worse start to 2022.
Shares of Peloton (PTON) are down nearly 25% this year and trading at their lowest level in nearly two years. The stock was up 12% Friday though after the company confirmed late Thursday that it may be looking to slow production of its bikes and treadmills and potentially lay off workers.
The news came after CNBC reported Peloton was considering pausing production of its low-end bike (which still costs $1,495) for two months. Peloton CEO John Foley, while not referring to CNBC specifically, categorized "rumors that we are halting all production of bikes and Treads" as "false."
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