REUTERS/Shannon StapletonJan 23 (Reuters) - Activist investor Blackwells Capital LLC wants exercise equipment maker Peloton Interactive Inc. to fire its chief executive and consider selling itself to a fitness or technology company, two sources familiar with the matter said on Sunday. The pandemic turned Peloton which offers stationary bikes and treadmills with livestreamed workouts from popular instructors into one of the market's hottest stocks, but the company's stock price has plummeted 84% in the last year. Peloton is now valued at roughly $8 billion down from $50 billion at the peak of its popularity roughly a year ago. The Wall Street Journal first reported Blackwell's campaign against Peloton. A representative for Blackwells declined to comment and Peloton did not immediately respond to a request for comment.

Source: Wall Street Journal January 24, 2022 01:11 UTC