Peloton Interactive Inc (PTON)

[tw0122]

One of the larger Ponzi companies Comcast is involved with. Bankruptcy looming take your money and run. Pump and dump stock and right now it’s watch down below penny land here we come.


Peloton Tumbles After CEO Steps Down, Company Fires 2,800, SLashed Guidance Again Making Imminent Sale Unlikely

Tyler Durden's Photo
BY TYLER DURDEN
TUESDAY, FEB 08, 2022 - 07:26 AM
Peloton Chief Executive Officer John Foley will step down and become executive chair in a victory for activist investor Blackwells Capital which had campaigned for his departure/// and in a loss for all those who were hoping the company would quickly sell itself to Amazon, Nike or some other potential acquiror.

As the WSJ first reported, Barry McCarthy, former CEO at Spotify, will become CEO and president, Peloton said in a statement Tuesday. Peloton also said about 2,800 global jobs would be cut, affecting around 20% of corporate positions as part of its dismal earnings release posted earlier today.

Oh, and in its early earnings release the company also cut revenue guidance again (which it cut just a few weeks ago) for the full year, with the guidance missed the average analyst estimate.