Peloton Stock Races Higher After Reports Of Potential Private Equity Buyout
PTONPeloton(PTON) Investopedia·2024-05-08 01:40

Key Takeaways Shares in fitness company Peloton jumped after CNBC reported private equity firms were exploring a buyout. Peloton announced last week that CEO Barry McCarthy would be leaving the firm as it planned to cut 15% of its staff. The company is looking to cut operating expenses by up to $200 million as it has failed to turn a profit since 2020. Shares in Peloton (PTON) kicked into a high gear Tuesday after news reports that a number of private equity firms may be considering a buyout. At least one f ...