Peloton executives and insiders sold nearly $500 million worth of stock before the stock fell sharply. That's according to documents filed with the Securities and Exchange Commission. Peloton shares have fallen more than 80% since their highs last year, hitting a 52-week low of $29.11 on Tuesday. John Foley, the company's CEO and co-founder, has sold $119 million worth of shares as of November 2020, according to SmartInsider. Most of his sales were for $110 a share or more. Many top executives also sold some of their shares at the right time. William Lynch, the company's president, sold more than $105 million worth of
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Ford Motor's market value surpassed $100 billion for the first time as the automaker's stock hit a new 52-week high Thursday.
Tesla co-founder JB Straubel, founder and CEO of battery recycling company Redwood Materials, has good news and bad news for those who believe electric vehicle sales are about to take off. Read more.
U.S. electric carmaker Tesla sold 70,847 China-made vehicles in December, the highest monthly rate since it began production in Shanghai in 2019, data from the China Passenger Car Association (CPCA) showed Tuesday. Read more.
Shares of Rivian Automotive fell 5% in after-hours trading Monday after the company said it missed its 2021 production target and confirmed the departure of its chief operating officer. Read more.
Elon Musk announced Friday on Twitter that Tesla will raise the price of its "Full Self-Driving" (FSD) package from $10,000 to $12,000 on Jan. 17 for U.S. customers only. Read more.
Adobe Chairman and CEO Shantanu Narayen expressed confidence about the company's future on Thursday, telling CNBC's Jim Cramer that the software maker's weaker-than-expected forecasts do not spell trouble for the company. Read more.
Shares of Lululemon gave back gains in extended trading Thursday after the company lowered its sales expectations for Mirror, the home fitness device it acquired last year. Read more.
Social media platform TikTok is making a big move into shopping. The video-sharing app is famous for its short lip-syncing videos, dance routines and humor. Read more.
Social media giant Weibo has made its Hong Kong stock market debut as Chinese technology companies have come under heavy pressure at home and abroad. Read more.
The boss of a US company has come under fire after he sacked around 900 of his staff over a single Zoom call. "If you are on this call, you are part of the unfortunate group that is being fired," Vishal Garg, chief executive of mortgage company Better.com, said in the call, which was later uploaded to social media. Read more.
Donald Trump's new social media firm says it has entered into agreements to raise $1bn (£755m)from investors ahead of a planned stock market listing. Read more.