Why Peloton Stock Got Destroyed Today
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