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The Wall Street Publication > Blog > Tech > Peloton Shares Drop as Losses Mount, Sales Slow
Tech

Peloton Shares Drop as Losses Mount, Sales Slow

Editorial Board Published May 10, 2022
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Peloton Shares Drop as Losses Mount, Sales Slow
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Peloton Interactive Inc. recorded its biggest quarterly loss as a public company and said it raised $750 million to help sustain the business amid mounting losses and weaker demand for its pandemic-popular bikes and treadmills.

Chief Executive Barry McCarthy, who took over in February, said Tuesday the cash infusion was needed because the company was thinly capitalized and loaded with costly backlogs of unsold bikes and treadmills.

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