Why Peloton Interactive Stock Was Falling This Week
Week to date, shares of Peloton Interactive (NASDAQ: PTON) were trading down 17% as of 1:29 p.m. ET on Thursday, according to data provided by S&P Global Market Intelligence.
The drop comes after Peloton announced it was shifting its manufacturing from company-owned facilities to Rexon Industrial based in Taiwan.
Despite the positive step to bring costs down, market participants are likely viewing this move as a sign of further weakness in sales.
Source Fool.com
