Why Peloton Interactive Stock Dropped Today
Shares of Peloton Interactive (NASDAQ: PTON) were down 8.5% on Friday morning, as of 11:40 a.m. EST. Though quarterly earnings showed strong growth, the company detailed some logistical issues and product shipping delays.
The stock today seems to be reacting to the consequences related to how the company plans to address delivery delays. Peloton will be "incrementally investing over $100 million in air freight and expedited ocean freight over the next six months in order to improve our order-to-delivery windows," the company said in a statement. It will also delay the launch of its new treadmill product in the U.S.
Source Fool.com
