Why Peloton Stock Just Turned South

Shares of Peloton Interactive (NASDAQ: PTON) went on a run yesterday, rising 15.5% after the exercise bike and treadmill maker announced it would sell $1 billion worth of stock to raise cash to help offset the mammoth $1.4 billion in cash it has burnt over the past year.

Today, though, the stock is taking a turn for the worse and giving back some of its gains, trading down 3.7% as of 11 a.m. ET.

Image source: Getty Images.

Source Fool.com