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AP National Business

Shareholder wants Peloton to consider selling the company

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Published 7:58 AM

By MICHELLE CHAPMAN
AP Business Writer

Activist investor Blackwells Capital is asking Peloton to remove CEO John Foley and consider selling the company just a few days after a media report said the exercise and treadmill company was temporarily halting production of its connected fitness products amid waning consumer demand. Blackwells also said Peloton should look into selling the company, and suggested that its loyal customer base could make it an attractive acquisition for businesses such as Nike, Apple, Sony or Disney. The investor letter comes as the company’s stock has plunged more than 80% in the past year. 

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