Peloton—Pandemic Stock Darling—Reportedly Halts Production Of Fitness Products, Shares Plunge Nearly 20%

Updated Jan 20, 2022, 02:58pm EST Topline Shares of Peloton—which surged during the pandemic as house-bound consumers grasped for ways to stay healthy—plunged over 20% on Thursday after reports that the company will temporarily halt production of its at-home fitness products as it looks to cut costs amid a “significant reduction” in consumer demand. Key…
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