Why Peloton Stock Took a Dive on Thursday
Investors feel confident when the top managers at their companies load up on stock or at least don't divest large blocks of it. This is a key reason why Peloton Interactive's (NASDAQ: PTON) shares suffered a more than 8% hit on Thursday.
In a regulatory filing time-stamped after market hours on Wednesday, Peloton revealed that former CEO John Foley sold around $50 million worth of his stock in the exercise hardware and software company.
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Source Fool.com
