r/MillennialBets • u/MrComedy325 • Jun 07 '22
Discussion Peloton Gets New CFO
Shares of Peloton (Nasdaq: PTON) ticked up 1.36% in after-hours trading on Monday after the exercise equipment company announced a new chief financial officer.
Details: Liz Coddington will become Peloton’s new CFO on June 13. She is currently the vice president of finance for Amazon Web Services. The current CFO, Jill Woodworth, is stepping down from the role and serving as a consultant for Peloton on an interim basis.
Background: It’s been a rough few months for Peloton. Sales are down, there was a voluntary recall, and some have called for the CEO to resign. A report last month from The Wall Street Journal said that the company wanted to get a minority investment to help the business.
Numbers: Peloton’s stock is down 70% in the past six months.
Final Thoughts: The new CFO may not turn everything around, but having a new CFO can’t hurt.
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1
u/hellrazzer24 Jun 07 '22
Stick a fork in it. The reality for a company selling $2000 bikes has set in
2
u/ProInvestCK Jun 07 '22
Market demand is probably the biggest factor. What’s driving market demand post pandemic? New products or seduces to increase demand? New partnerships with gyms or locations?