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Bets against Peloton’s stock are hovering near a record high — even after a recent plunge kickstarted by the company’s ill-fated commercial

Peloton

  • Short wagers against Peloton stock are sitting near a record high after the company’s holiday ad garnered intense backlash.
  • Peloton stock fell 11% in the six days following the commercial’s release.
  • Traders piled into bets against a recovery, pushing short notional interest to a post-IPO record of $975 million on December 10, according to data from S3 Partners.
  • That level of short interest accounts for nearly 80% of Peloton’s freely trading shares.
  • Watch Peloton trade live here.

Traders are spending more than ever to bet that Peloton’s commercial-driven stock meltdown will continue.

Peloton’s share price dropped read more >>>

Source:: BusinessInsider.Com