No wonder the insiders were selling... Down 25% so far today.
Peloton to halt production of its Bikes, treadmills as demand wanes
https://www.cnbc.com/2022/01/20/pelo...and-wanes.htmlPeloton 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.
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