Peloton Reverses Gains After CEO Departure, Job Cuts
PTONPeloton(PTON) Schaeffers Research·2024-05-02 22:55

Peloton Interactive Inc (NASDAQ:PTON) reported disappointing fiscal third-quarter results before the open today. The company also announced it will cut 15% of its workforce -- roughly 400 jobs -- and that CEO Barry McCarthy is stepping down. PTON was up as much as 8.6% earlier, but has since pivoted sharply lower, down 7.1% at 2.99atlastglance.PelotonstockisnttoofarremovedfromitsApril25recordlowof2.99 at last glance. Peloton stock isn't too far removed from its April 25 record low of 2.91, and an executive today stated that the home fitness equipment name is still dealing wi ...