Why Peloton's Shares Plunged 8.2% on Tuesday
Shares of Peloton (NASDAQ: PTON) fell as much as 8.2% in trading Tuesday after a Wall Street analyst jumped ship on the stock. Shares ended the day down 4.9%.
UBS analyst Eric Sheridan lowered his rating on Peloton from sell to neutral, although the price target went up to $124 from $115 per share. Sheridan said he liked the company's prospects long term, but that shares are too rich to buy right now.
Image source: Peloton.
Source Fool.com
