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						<span class="tag is-dark is-uppercase">Business</span>
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<p>November 24, 2022 12:30 pm</p>
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<p><span style="font-weight: 400;">According to an SEC filing</span>Peloton Chief Content Officer Jennifer Cotter sold 350 shares at $11.01 each. Recently, the stock fell to $9.50. Maybe she plans to buy a Peloton product, but she would have to get a big discount. Or, she may want to put the money aside. <span style="font-weight: 400;">According to</span> an article in The Wall Street Journal, Peloton’s deal to sell exercise equipment via Amazon is not as good as it initially seemed.</p>
<p>The Amazon deal was supposed to widen Peloton’s distribution footprint substantially. But it did not help profitability. The author wrote,” …Amazon’s help won’t come cheap. The deal is a wholesale relationship, which means Amazon buys the bikes from Peloton then sells them at a markup.” The Journal also points out the Amazon deal could cut inventory that needs cutting.</p>
<p>The news is another milestone on the path of poor decisions by CEO Barry McCarthy, who has been at the company less than a year. He can sell equipment at a loss and make it up on volume. Even first-year business students know that does not work.</p>
<p>Investors have already voted against McCarthy’s tenure and his strategic decisions. Shares are off 72%, while the overall market has dropped 16%. There is nothing in Peloton’s official announcements about earnings that would cause investors to move in any direction other than out.</p>
<p>In the most recently reported quarter, revenue fell 23% to $617 million. Peloton posted a net loss of $408 million.</p>
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<p>Why did Cotter sell those shares? A gym membership.</p>
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Peloton Officer Sells 530 Shares – Darlinez News.
