MoneyWatch: Peloton's CEO pushes back after report that it paused manufacturing its bikes and treadmills

Name: MoneyWatch: Peloton's CEO pushes back after report that it paused manufacturing its bikes and treadmills
Uploaded: 2022-01-21T08:55:32-0500
Duration: 6 min 29 s
Description: Peloton’s stock plummeted more than 20% Thursday after CNBC reported that the fitness firm is temporarily halting production of its bikes and treadmills. The company’s CEO released a statement calling the reporting “incomplete, out of context, and not reflective of Peloton’s strategy.” CBS MoneyWatch executive editor Glenn Coleman joins “CBSN AM” to discuss the latest on Peloton.

Peloton’s stock plummeted more than 20% Thursday after CNBC reported that the fitness firm is temporarily halting production of its bikes and treadmills. The company’s CEO released a statement calling the reporting “incomplete, out of context, and not reflective of Peloton’s strategy.” CBS MoneyWatch executive editor Glenn Coleman joins “CBSN AM” to discuss the latest on Peloton.