Peloton's CEO and Board Members Sell $700 Million in Shares

Peloton's executives and board members sold $700 million in shares of Peloton. Foley alone sold a hundred and 19 million in shares after the IPO, even as the stock price was plunging. SoulCycle is offering a package of 47 classes valued at $1,400 in exchange for pre-owned Peloton bikes. The company would cut 2,800 jobs, 28% of their workforce.