Peloton stock jumps as Blackwells pushes for CEO ouster, sale - Reuters
Jan 24 (Reuters) - Peloton Interactive Inc's (PTON.O) stock surged on Monday after investment firm Blackwells Capital urged the exercise equipment maker's board to fire its chief executive and put the company up for sale.Blackwells is also urging the board to put the company up for sale to a buyer like Walt Disney Co (DIS.N), Apple Inc (AAPL.O), Sony Group (6758.T) or Nike Inc , Reuters reported on Sunday.Even though Foley, who has led the company for nearly a decade, dismissed the report as false, the news caused the stock price of Peloton to tumble 24% on Thursday, wiping off $2.5 billion from its market value.While many investors had become frustrated with Peloton as the stock price fell, analysts also noted that the company might be difficult to target because it has two classes of stock, effectively allowing insiders to control it