July 2, 2022

It's Market

It's The $ Stock Market $


2 min read

Imagine losing 30% of your account value in just a couple of mins. Peloton shares fall 30% as company posts wider-than-expected loss and slashes full-year outlook. Peloton reported weakening sales growth and a wider-than-expected loss in its fiscal first quarter. The company slashed its outlook for the full year amid softened demand for its exercise equipment and ongoing supply chain challenges. A slower-than-expected start to the second quarter and “challenged visibility” in the near term led the company to lower its expectations, CEO John Foley said.

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