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Why Peloton Stock Plunged Today

Why Peloton Stock Plunged Today

Shares of Peloton Interactive (NASDAQ: PTON) plunged on Thursday after the company revealed that it's partnering with Dick's Sporting Goods to stock its exercise equipment in select stores. As of noon ET, Peloton stock was down 12%. According to an official press release, Peloton's exercise hardware (minus its new rowing machine) will be available for sale at 100 Dick's Sporting Goods locations in time for the holidays.