(CercleFinance.com) – The Peloton share posted a second session of strong growth on Tuesday on the Nasdaq, an upward movement which is explained by the speculation which continues to surround a possible takeover of the American specialist in sports equipment.
These speculations were revived by the formalization this morning of the resignation of general manager John Foley, one of the founders of the manufacturer of exercise bikes and treadmills.
He will be replaced tomorrow by Barry McCarthy, a former senior executive at Spotify and Netflix.
For analysts at Wedbush Securities, the departure of Foley – called to take the role of executive chairman of the board of directors – does not come as a real surprise after several ‘disastrous’ months for the New York group.
‘Foley has been the pioneer and visionary at Peloton over the past decade, driving Peloton’s phenomenal success, but he is now leaving the company in dark times with 2,800 job cuts (20% of the workforce) and closure of Peloton Output Park in Ohio,” Wedbush said.
Peloton actually confirmed in the morning its intention to cut some 2,800 jobs.
All these elements augur, according to Wedbush, changes to come in the coming months, starting with the possibility of an outright sale of the company to a giant like Apple, Amazon or Nike.
For Wedbush, Apple remains the most serious candidate for a possible acquisition in view of the strong complementarities that exist with its own activities in health, fitness and subscription services.
After jumping more than 20% yesterday, the Peloton title gained an additional 10% today on the New York Stock Exchange.
Copyright © 2022 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends with the buttons below.
