Peloton halts production on its treads and bikes, causing shares to tumble 20%

Peloton logo on side of bike
Peloton’s new chief executive Barry McCarthy has dismissed rumours that the fitness tech is interested in selling.
// Peloton saw its share price tumble by 20% after a leaked report claimed the company is to cease the production of its treadmills and bikes after demand has plunged post-pandemic.

The report, which was reported by CNBC, published details of the company’s decision from a confidential internal presentation it had acquired.

 

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