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Peloton Shares Drop 10.6% in After Hours Trading With Worse-Than-Expected Quarterly Loss

AP News | Equities.com |

Peloton’s shares skidded in aftermarket trading Thursday after the exercise bike and treadmill company posted a loss for its most-recent quarter, showed slower revenue growth, and cut the price of its most popular product.

Peloton Interactive Inc. reported a net loss of $313.2 million in the quarter that ended June 30. That compared to a profit of $89.1 million the same period last year. A portion of the latest quarter’s loss stemmed from the company having to recall its treadmill machine after it was linked to a death of a child and numerous injuries.


Elon Musk Says Tesla Price Increases Are Result of Supply Chain Issues

Kimberly Redmond | Equities.com |

After multiple price increases for Tesla Inc’s popular Model 3 and Model Y, chief executive officer Elon Musk finally addressed the matter, saying they have to do with the supply chain issues across the auto industry.

Since February, Tesla has incrementally raised prices five times and provided no comment on the changes, but Musk broached the topic Monday when he replied to Twitter user @Ryanth3nerd on Twitter who had written that he didn't like “the direction Tesla is going raising prices of vehicles but removing features like lumbar for the Model Y.”


Tesla Cuts Prices of Standard Trim Lines of Model 3 and Model Y Vehicles

Kimberly Redmond | Equities.com |

Tesla Inc has updated the prices of its two best-selling models, the Model 3 sedan and Model Y sport utility vehicle, in the US.

The electric car maker reduced the base version price of both cars but increase the cost of the high-end versions of the Model 3 and Model Y, Tesla’s website showed.

The price of the Model 3 Standard Range Plus was lowered from $37,990 to $36,990, while the Model Y Standard Range’s price came down to $39,990 from $41,990.


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