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Why Peloton Stock Got Destroyed Today

TheMotleyFool

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The news at Peloton Interactive (NASDAQ: PTON), a one-time darling of the pandemic trade, went from bad to worse on Thursday, as media reports described first a planned layoff of 41% of the company's sales and marketing staff -- and then a shutdown of production.

As of 1:15 p.m., Peloton stock is already down 20%.

Image source: Getty Images.

Source Fool.com

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