(NewsNation) — Peloton’s top executives, including its co-founder, chief legal officer and chief commercial officer, left the struggling exercise company Tuesday, marking yet another downturn for Peloton in the post-pandemic world.
Peloton shares are down 72% this year and last quarter, the company posted a loss of more than $1 billion, as it continues to struggle against the trend of people leaving their homes once again to exercise.
“It’s a cautionary tale. This is a company that was just pushed artificially higher at its apex,” NewsNation business contributor Lydia Moynihan said of Peloton. “It was trading for $170 per share; today, those shares are trading around $9.”
Moynihan’s full analysis of Peloton’s downturn can be viewed in the video above.