Over 1 Year Ago
2 Min Read

PTON is down -9%. Find out why the stock tumbled today.

Shares of Peloton Interactive Inc (PTON) are trading -9% lower at a price of $10.025 at the time of this writing. The stock is falling behind peers on a somewhat pessimistic day for the Consumer Discretionary sector.

  • Co-founders- executive chairman John Foley and chief legal officer Hisao Kushi- are resigning from their respective roles
  • Chief Commercial Officer, Kevin Cornils, is also leaving the company this month
  • Karen Boone, the former President of Restoration Hardware Holdings, will be made the Chairperson of the Board
  • Uber Chief Deputy General Counsel, Tammy Albarrán, will be stepping up for the role of Chief Legal Officer
  • Investor speculation of a potential stock sale by Peloton founders

Peloton Interactive Inc has been trading between a 52-week high of $113.88 and a 52-week low of $8.22. The stock has a market cap of $3.09 Billion.

Peloton is the leading interactive fitness platform in the world with a loyal community of more than 3.6 million Members. The company pioneered connected, technology-enabled fitness, and the streaming of immersive, instructor-led boutique classes for its Members anytime, anywhere. Peloton makes fitness entertaining, approachable, effective, and convenient, while fostering social connections that encourage its Members to be the best versions of themselves.


Why Is Peloton Interactive (NASDAQ:PTON) Stock Trending Lower?
TipRanks 09-13-22

Peloton Interactive, Inc. (PTON) Presents at Goldman Sachs Communacopia + Technology Conference 2022 (Transcript)
Seeking Alpha 09-12-22

Peloton Co-Founders Leave Company In Latest Management Shake-Up
Zero Hedge 09-12-22

Peloton founders depart company, rumored to eye stock sale (NASDAQ:PTON)
Seeking Alpha 09-12-22

Peloton Shares Drop As Co-Founders Step Down From Roles At Embattled Connected Fitness Company
Benzinga 09-12-22

As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:

reikuki - 4 upvotes - source
Yes if the stock craters on some news way past your short put strike. I'm talking about $40 to $24 or less with you getting assigned in the 30s. Like PTON. Do it on stocks you like, preferably at the cost you would like to pay for 100shares, and wouldn't mind holding for long periods to recover the cost if you have to.

VisualMod - 4 upvotes - source
>PELOTON SHARES DOWN ABOUT 4% PREMARKET AFTER TWO CO-FOUNDERS LEAVE AMID MASSIVE RESTRUCTURING $PTON ^\*Walter ^Bloomberg ^[@DeItaone](http://twitter.com/DeItaone) ^at ^2022-09-13 ^08:48:47 ^EDT-0400

ChampagneWastedPanda - 4 upvotes - source
PTON 2 founders resign … still trading around $10. Makes 0 sense it is still alive

lipmanz - 4 upvotes - source
PTON removed Founder John Foley in Feb from CEO position, now they kick him off the board, he must be a troublemaker 😂

BuyHandSanitizer - 2 upvotes - source
Pton co founder leaving company

not650KLR - 2 upvotes - source
All in puts on amc, Pton and the spider. Portfolio not looking too hot today. All 9/30 exp tho so I’m gravy right?

VisualMod - 1 upvotes - source
>\*Peloton Interactive Offering $89/Month Rentals of Original Bike $PTON ^\*Walter ^Bloomberg ^[@DeItaone](http://twitter.com/DeItaone) ^at ^2022-09-13 ^09:02:31 ^EDT-0400

BuffMaltese - 1 upvotes - source
PTON and COIN puts

BigBoboGoingBigger - 1 upvotes - source
!banbet PTON +10% 1w