Why Peloton Stock Is Falling Yet Again Today
Shares of Peloton Interactive (NASDAQ: PTON) were down 4% at noon ET on Wednesday after the connected fitness-equipment manufacturer announced it won't be making its exercise bikes and treadmills in-house anymore.
Instead, Peloton will expand its partnership with Taiwan-based Rexon Industrial as it seeks to cut costs, streamline its manufacturing supply chain, and focus on its technology.
Chief supply chain officer Andrew Rendich told Bloomberg News, "We are going back to nothing but partnered manufacturing."
Source Fool.com
