Peloton Stock Races Higher After Reports Of Potential Private Equity Buyout

Key TakeawaysShares in fitness company Peloton jumped after CNBC reported private equity firms were exploring a buyout.Peloton announced last week that CEO Barry McCarthy would be leaving the firm as it planned to cut 15% of its staff.The company is looking to cut operating expenses by up to $200 million as it has failed to turn a profit since 2020. Shares in Peloton (PTON) kicked into a high gear Tuesday after news reports that a number of private equity firms may be considering a buyout. At least one firm ...