Peloton shares drop after it announces refinancing to stave off cash crunch
Publishing timestamp: 2024-05-20 17:55:22
Summary
Peloton is launching a global refinancing to buy back debt and extend loan maturities, as the company faces slowing sales and a cash crunch. Shares plunged initially but later recovered. CEO stepped down and layoffs were announced to align spending with revenue. Company aims to achieve positive free cash flow and improve its cash position through restructuring and refinancing.
Sentiment: NEGATIVE
Tickers: PTON, BRK.A, GSBD, GS, JPM, GOOGL,
Keywords: goldman sachs bdc inc, breaking news: business, business news, jpmorgan drn, business, barry mccarthy, retail industry, goldman sachs group inc, peloton interactive inc,
Source: https://www.cnbc.com/2024/05/20/peloton-shares-plunge-after-refinancing.html