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Peloton Deepens IPO Slump With 11% Tumble in Trading Debut

  • Fitness startup opened at $27 after pricing shares at $29
  • Disintegration of WeWork’s IPO plans has rattled investors
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Peloton Is Playing the Long Game and Investing in New Tech, CEO Says
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Peloton Interactive Inc. fell as much as 15% in its stock market debut Thursday, becoming the latest in a long list of unprofitable tech-oriented start-ups to flop with public investors.

The New York-based company, known for its high-end exercise bikes, joined highly anticipated listings from Uber Technologies Inc., Lyft Inc. and SmileDirectClub Inc. that failed to pop on the first day of trading for shareholders who bought in at the IPO price.