Why Peloton's Shares Plunged 8.2% on Tuesday

Why Peloton's Shares Plunged 8.2% on Tuesday

Shares of Peloton (NASDAQ: PTON) fell as much as 8.2% in trading Tuesday after a Wall Street analyst jumped ship on the stock. UBS analyst Eric Sheridan lowered his rating on Peloton from sell to neutral, although the price target went up to $124 from $115 per share. Peloton has ballooned to a $44 billion market cap, despite just $2.4 billion in revenue over the past year.