It was reported on Friday afternoon that Peloton (PTON) told employees it will slash 780 jobs, close some stores and increase prices on some equipment.
Telsey Advisory Group analyst Dana Telsey: “We continue to believe it is early days in the formation of Peloton’s new strategic direction, and it will take 12-24 months to have the pieces in place… Given the lack of visibility into demand levels, profitability, and cash flow, we maintain our Market Perform rating.”
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