Peloton loses $2.5 bln in market value after report on production pause [Reuters]
Planet Fitness, Inc. (PLNT)
Last planet fitness, inc. earnings: 2/25 04:05 pm
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Source: Reuters
drop in demand, CNBC reported on Thursday, citing internal documents from the company. Shares in the exercise bike maker, which did not respond to a Reuters request for comment, closed down 23% at $24, wiping off nearly $2.5 billion in market cap. In a confidential presentation dated Jan. 10, Peloton said it had seen a "significant reduction" in demand and that it plans to pause bike production in February and March, according to the CNBC report . It also won't manufacture the Tread treadmill machine for six weeks, beginning next month. Peloton, once a pandemic darling, slashed its full-year sales forecast by up to $1 billion in November, as people began venturing out of their houses to hit gyms again. read more A Peloton exercise bike is seen after the ringing of the opening bell for the company's IPO at the Nasdaq Market site in New York City, New York, U.S., September 26, 2019. REUTERS/Shannon Stapleton/File Photo Read More "During the pandemic, there was too little sup
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PLNT
Earnings
- 2/22/24 - Beat
PLNT
Sec Filings
- 4/16/24 - Form 8-K
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- PLNT's page on the SEC website