Why Peloton Interactive Is Rising Today
Shares of Peloton Interactive (NASDAQ: PTON) are rising 3.9% at 10:35 a.m. ET on Wednesday despite the connected-fitness equipment manufacturer announcing on Monday that it was delaying filing its annual report with the Securities & Exchange Commission.
Peloton said it needs more time to evaluate charges it will be taking associated with getting rid of its warehouses as part of its restructuring. It also needs to determine whether its internal controls over financial reporting are effective enough in light of these strategic developments.
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Source Fool.com