Peloton (PTON) Delays Ohio Factory Opening Due to Supply Glut - NYP
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Peloton (NASDAQ: PTON) will delay opening a $400 million U.S factory due to slumping demand, the New York Post reported.
The Troy Township, Ohio plant will now open in 2024 versus 2023, the report said.
Earlier today, CNBC reported the connected fitness company was temporarily halting production due to a supply glut. The company is now more focused on cutting costs, the report said.
Shares of Peloton closed down 24% Thursday.
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