Update: Peloton to halt production. source
Still think is a not fad? Gym equipment come and go, as will this company. Onward to $5.
Peloton executives and insiders sold nearly $500 million worth of their stock before its big decline, according to filings with the Securities and Exchange Commission.
Peloton stock is down more than 80% from its highs last year, and it hit a 52-week low of $29.11 on Tuesday. Yet the company’s CEO and other executives sold millions of shares at prices over $100 a share in the months leading up to the big declines.
The big selling started when the stock started surging past $80 a share in the fall of 2020, and gained momentum in 2021 as the stock held above $100, the filings show.
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