DD Support Board and Research Team

[BullNBear52]

$2.5 billion wiped from Peloton’s market value as shares tumble below IPO price
PUBLISHED THU, JAN 20 20224:08 PM EST

KEY POINTS
Shares of Peloton closed down 23.9% at $24.22 on Thursday, wiping roughly $2.5 billion off of its market value.

The sharp drop brought the stock beneath the $29 mark where it first priced at in September of 2019, and marked another notable milestone in the company’s turbulent ride in recent months.

Shares plummeted after CNBC reported that the connected fitness company is temporarily halting production of its products, and were halted for volatility multiple times.

https://www.cnbc.com/2022/01/20/pelotons-market-value-drops-by-2point5-billion-as-shares-close-below-ipo-price.html