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Peloton shares are falling while losses are rising, sales are slow

Peloton Interactive Inc. recorded its largest quarterly loss as a public company, saying it raised $ 750 million to help sustain the business amid rising losses and weaker demand for their pandemic-popular bikes and treadmills.

CEO Barry McCarthy, who took over in February, said Tuesday that the cash infusion was necessary because the company was sparsely capitalized and filled with costly backlogs of unsold bikes and treadmills.

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