Peloton insiders bought almost $500 million in inventory earlier than its massive drop

peloton Executives and insiders sold nearly $500 million worth of their stock ahead of the big drop, according to filings with the Securities and Exchange Commission.

Peloton stock is down more than 80% from its highs over the last year, hitting a 52-week low of $29.11 on Tuesday. But the company’s CEO and other executives sold millions of shares at prices in excess of $100 a share in the months leading up to the big falls.

Company executives and insiders sold their stock valued at $496 million in 2021, according to SmartInsider, citing SEC filings. Virtually all sales were part of 10b5-1 plans or pre-planned sales programs. It’s unclear how many of the sales also involved option exercises or tax sales related to options.

The big sell-off started when the stock started to climb above $80 per share in the fall of 2020 and gained momentum in 2021 when the stock held above $100, filings show.

The company did not respond to requests for comment.

Peloton shares soared as sales and subscribers increased throughout the year first year of the corona pandemic. Consumers flocked to the product when they were looking for ways to work up a sweat without a gym membership. To meet the strong demand, Peloton invested in his business, to scurry ramp up productiong and Accelerate order fulfillment. But when the Covid vaccines rolled out, the company saw weaker demand and its shares started falling.

John Foley, the company’s CEO and co-founder, sold $119 million worth of shares as of November 2020, according to SmartInsider. Most of his sales were $110 a share or more. The sales were part of a pre-agreed 10b5-1 plan to “sell a limited number of the company’s stock for personal finance management purposes,” according to an SEC filing.

Although the plan called for the sale of up to 2.4 million shares by October 2022, Foley informed the board that he had ended the sale plan on August 30, 2021 after selling a total of 1 million shares. No reason was given for the termination, but on November 4, 2021, The company lowered its sales forecast and stocks plummeted.

The stock sales accounted for about 16% of Foley’s total stake in the company, excluding options. Including options, the sale represented about 5% of its holdings, according to SmartInsider.

Many top executives have also cashed out some of their holdings through timely sales. William Lynch, the company’s president, sold more than $105 million in stock last year, with $72 million sold in February at an average price of $144.95.

John Foley, co-founder and chief executive officer of Peloton Interactive Inc., center, speaks as Hisao Kushi, co-founder and chief legal officer of Peloton Interactive Inc., from left, Tom Cortese, co-founder and chief operating officer of Peloton Interactive Inc., Yony Feng, co-founder and chief technology officer of Peloton Interactive Inc., and Graham Stanton, co-founder of Peloton Interactive Inc., listen during the company’s initial public offering (IPO) at the Nasdaq MarketSite in New York, U.S., Thursday, May 26. Sept 2019

Michael Nagel | Bloomberg | Getty Images

Hisao Kushi, co-founder and chief legal and culture officer, sold more than $90 million of its shares — most at prices in excess of $110 per share. Other top sellers included the company’s chief product officer, Tom Cortese, who sold more than $60 million of its stock, and chief operating officer Mariana Garavaglia, who posted more than $25 million in sales.

Members of the board of directors have also cashed out their holdings, including Karen Boone, who sold more than $20 million worth of shares at prices in excess of $140 per share last February, according to documents.

Of course, Peloton insiders weren’t the only ones selling the stock during last year’s runup. With large stock sales by prominent executives such as jeff bezos and Elon Musk, total insider sale achieved a record $170 billion last year, up from $94 billion in 2020, according to SmartInsider. Historically, executives and insiders sell during or near the highs of their stock prices.

“One of the best accepted facts from decades of insider trading research is that corporate insiders buy near bottoms and sell near tops,” said Daniel Taylor, associate professor at the Wharton School.

At the moment, Peloton is flirting with new lows. The stock came very close to falling below it $29 per share IPO price, after CNBC reported that the company had hired McKinsey to review its cost structure, an effort that could result in job cuts and store closures. Peloton is also effectively increasing product prices later this month when that happens begins charging for shipping and installation.

The Drop Western-Fashion Suede Boot From Amazon Is Calling Your Identify

Us Weekly has affiliate partnerships so we may receive compensation for some links to products and services.

Disclaimer: The product in this article was given as a gift from Amazon.

When buying a new pair of boots there are many factors to consider. That being said, we still tend to go for slick or pebbled leather picks most of the time. It’s an excellent strategy, but in doing so we can overlook other styles that are just as beautiful and versatile. For example, another type of leather that does not always receive the same attention is suede. It’s simple but nifty!

One of the main reasons people can go without suede is because it’s not as water-repellent as leather – but when there is an option as nice as it is this western style pair from The Drop, we’re all on deck! They are super stylish, but retain a classic look that will stay on trend for years to come.

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These boots might not be ideal for particularly wet weather, but when it’s not raining or snowing outside, they make an excellent shoe for planning an outfit. What fascinated us most about them is her typical western flair. That retro aesthetic has been all the rage lately, with plenty of high fashion catwalks showing off similarly sleek styles. This particular pair is made from a super soft microsuede material that felt absolutely amazing from the moment the shoes arrived. The advantage of suede over leather is that it usually takes less time to break in, which we found with these boots!

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With the help of the zipper that is enclosed on the inside of the ankle, the shoes are incredibly easy to slip on to your feet. There is also a hidden elastic panel on the other side the boat this gives your leg more mobility when walking. This must-have shoe officially breaks our standard leather boot vibe and opens up our # OOTD opportunities for 2022!

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Not what you’re looking for? Look at more trendy styles from The Drop and shop everything Clothes, shoes and jewelry available from Amazon! Don’t forget to try everything Amazon’s daily offers!

Check out more of our tips and offers here!

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The Shop With Us team can get products from manufacturers to test for free. In addition, Us Weekly receives compensation from the manufacturer of the products we write about when you click a link and then purchase the product featured in an article. This does not affect our decision whether a product or service is presented or recommended. Shop With Us works independently of the advertising sales team. We look forward to your feedback at ShopWithUs@usmagazine.com. Have fun shopping!

New Zealand Covid replace: instances drop to 15 as Ardern unveils ‘Mr Whippy-style’ vaccination buses | New Zealand

Covid-19 cases in New Zealand have fallen, a hopeful sign as Auckland steps into the government-planned final week of Level 4 lockdown.

The country announced 15 new cases on Tuesday, halving the number of cases from monday 33.

At this stage of the outbreak, the government is paying special attention to how many of these cases are clearly related to existing infections, as unlinked cases could suggest that the virus is spreading uncontrollably across the community. All of the cases on Tuesday were household contacts of existing cases, said Health Director Dr. Ashley Bloomfield, and the total number of unrelated cases during the outbreak, has dropped to 10 from 17 on Monday.

The Auckland region is now in its fourth week of a level four lockdown, the toughest level of restrictions. The rest of the country exited lockdown last weekalthough there are still some restrictions on gathering size and use of masks. Prime Minister Jacinda Ardern said Monday the government had made a “fundamental” decision that Auckland would move from alert level four to three next week.

Ardern also announced that from Northland, the country will be rolling out “Mr Whippy-style” mobile vaccination clinics on buses in an attempt to reach communities where vaccines are less accessible.

“In Australia they started doing something similar and called the mobile outreach clinics Jabba the bus,” said Ardern. “I’m sure we can do better.”

“We have some front runners: the double jab ute and the jabbin ‘car.”

In the meantime, officials are pushing up vaccination rates. A total of 66.5% of the eligible population [those aged 12 years and over] received at least one dose of the vaccine and 34% received both doses. The country currently vaccinates about 55,000 people per day, up from a peak of about 90,000 doses per day in late August.

Ardern urged the New Zealanders to get vaccinated. “Just as we have led the world with the success of our elimination strategy, I want New Zealand to lead the world in the future, both in terms of freedoms and our health and wellbeing,” said Ardern. “With high vaccination rates, we can achieve just that.”

Residence Depot offered out of an early drop of Halloween decor instantly

A Home Depot store can be seen in Washington, DC on August 18, 2020.

NICHOLAS COMB | AFP | Getty Images

Home depot said Tuesday that an early release of Halloween products is selling out fast, which is a signal that consumers will be eager to decorate their homes this fall and winter.

The home improvement retailer recently offered shoppers a taste of its Halloween products online and sold everything “almost immediately”.

“This is a very strong indication that people are still preoccupied with decorations,” management told analysts during a conference call.

The full range will go on sale in the coming weeks in line with the typical schedule, Home Depot said.

Last year, Home Depot had its most successful Halloween event ever with an inventory of a 12-foot skeleton that will sell out before October. Americans gave themselves some holiday decor for both Halloween and Christmas as they looked for ways to entertain themselves at home during the health crisis. Many saw decorating as a fun way to celebrate the holidays.

Company like Walmart and goal hope to benefit from similar trends this holiday season.

The frenzied Delta variant has skyrocketed Covid-19 cases, especially in areas with low vaccination rates. Five states have broken records for the average number of new Covid cases every day over the weekend, prompting some states to reintroduce public health policies.

Home Depot shares fell more than 5% Tuesday morning after the retailer closed the second quarter of its fiscal year Sales in the same store fell short of Wall Street’s expectations. Home Depot added that its outlook for the year is still uncertain due to the pandemic.

U.S. life expectancy dropped by 1.5 years in 2020, greatest drop since WWII

The Covid-19 pandemic cut average life expectancy in the United States by about 18 months in the past year, which is the largest annual decline since World War II, according to new data from the Centers for Disease Control and Prevention.

According to the report released Wednesday by the CDC’s National Center for Health Statistics, Americans are now expected to live an average of 77.3 years, compared with 78.8 years in 2019. Hispanics saw the sharpest decline in life expectancy last year, followed by black Americans.

“The decline in life expectancy between 2019 and 2020 is primarily due to deaths from the pandemic,” the report said. Covid deaths accounted for nearly 75% of the decline. More than 609,000 Americans have died in the pandemic, including about 375,000 last year, according to the CDC.

About 11% of the decrease is due to an increase in deaths from accidents or accidental injuries. Deaths from drug overdose, the pointed 30% during the pandemic accounted for about a third of accidental injuries last year.

The life expectancy of American men decreased 1.8 years from 2019 to 2020, while the life expectancy of American women decreased 1.2 years from 2019.

“The difference in life expectancy between the sexes was 5.7 years in 2020, increasing from 5.1 in 2019,
said the report.

Hispanic Americans typically have longer life expectancies than non-Hispanic blacks or whites, but according to the report, Hispanic life expectancy declined more than any other ethnic group in the past year. The life expectancy of all Hispanics decreased by three years, from 81.8 years in 2019 to 78.8 years in 2020. Hispanic men suffered a decrease of 3.7 years in 2020.

“Covid-19 was responsible for 90% of the decline in life expectancy in the Hispanic population,” the report said.

The narrowing of the life expectancy gap between white and Hispanic populations “is a strong indicator of the deterioration in health and mortality scores for a population that, paradoxically, before the Covid-19 pandemic, was able to meet expectations.” coincide with their disadvantaged socio-economic profile. Said the report.

“You were at a greater risk of getting infected,” said Elizabeth Arias, the report’s lead author, in an interview. “People who work in the service sector could not telework.”

Hispanic and Black Americans are largely overrepresented in jobs that were deemed essential during the pandemic lockdown and are more exposed to the virus than office workers who could work from home.

“These groups have been infected and that has a lot to do with their status in society,” said Arias.

Black Americans experienced the second largest decline in life expectancy, falling nearly three years from 74.7 years in 2019 to 71.8 years in 2020, the lowest since 2000, the report said. Covid was responsible for 59% of the decline in life expectancy among blacks.

Life expectancy among white Americans fell 1.2 years in 2020, from 78.8 years in 2020 to 77.6 years, its lowest level since 2002. Covid-19 was responsible for 68% of the decline in whites last year .

Covid-19 was the third leading cause of death last year, and “the overall death rate was highest among non-Hispanic blacks and non-Hispanic Native American or Alaskan people,” the CDC said in its preliminary mortality report in April.

The life expectancy of black Americans consistently lags behind whites, but the last time the life expectancy gap between blacks and whites was this large was in 1999, according to the report.

“You would expect an infectious disease or pandemic to affect everyone … but it affected populations that differed by race and ethnicity,” said Arias.

Other factors that contributed to the 2020 decline in life expectancy include homicides, which accounted for 3% of the decline, and diabetes and chronic liver disease, which accounted for 2.5% and 2.3%, respectively.

The Black Coast is about to drop ‘quarantine model’ EP quickly

Fishtown’s The Black Coast combines rock and dirty blues into a heavy guitar and a vocally driven garage rock sound.

The two core members Stef Emery and Ryan Gaughan appear as a duo or with a full band and dive deep into explosive guitar riffs and soaring vocals to achieve a mix of grit and soul that speaks volumes.

Their debut album “And Counting” (under the band name La Capitaña) was released in 2012. Most recently, in late 2019 to 2020, they released a number of singles under their new name The Black Coast. In December 2020 they released their seven song album, which includes these singles, as well as several other new songs, “Dark Days | Dark nights. ”

The band has played many Philly venues including The TLA, Dobb’s, Bourbon and Branch, Ortliebs, Milkboy, and the recently closed Boot and Saddle. They’ll be releasing a quarantine-style acoustic EP in early 2021, which will feature a mix of songs from their freshman album as well as some songs from their new release.

PW recently met with Emery and Gaughan to discuss their careers and music.

Fishtown’s The Black Coast has performed in numerous locations across the city. | Image: Travis Chicken

Let’s go back to the beginning. Who were some of your early musical influences? When did you know you wanted to be a musician?

Stef: I started playing music at a young age, just before I was ten. In my early teens, I started doing a lot of classic rock and then I really found a love for singing. Although I knew from a young age that I wanted to be a musician, it wasn’t until I was a teenager that I felt that music had to be a dominant part of my life. Early influences were Janis Joplin, Led Zeppelin, Jimi Hendrix, The Doors, Cream … All this music from the 60s and 70s has just opened up a whole different world to me.

Ryan: I was probably 10 or so when I realized I wanted to do this. Blues was my first major influence. Buddy Guy, BB, to Stevie Ray. Finally I made my way to Hendrix, Black Sabbath and Zeppelin.

How did you two get together to make music? Why did you think it would fit well?

Stef: Ry and I met in high school and instantly bonded over a shared love for anything to do with rock and blues. We ended up doing a few coffee house shows together in high school and college. It was 2011 when we finally decided it was time to form an official band together. Since we had been best friends for so long and always only had the same styles of music, it was really an easy decision to form the band! We thought that if we could bring our love of music together and write songs we liked, maybe others would love them too. We were under the band name La Capitaña from 2011 to 2019 and recently rebranded to change our name and release our latest album “Dark Days | Dark nights. “

Ryan: We practiced for an acoustic set in a small studio where we both worked. As we went through the songs, all I remember is that I really wanted to hear more rock music for Stef. We’ve been best friends since we were 16 too so we knew it was going to work!

They have played many local venues that were closed during the pandemic. How did all the closings and restrictions affect you, besides not being able to perform in those places?

Ryan: It was hard not even to see each other! Go out for a drink, write together, let alone not play live. It was an isolating time but we found our own way to move on.

Stef: When the pandemic started we were preparing to plan a release show for the new album … It was obvious that we had to hold back indefinitely to do this. It was so different to releasing new music and not sharing it live, but using social media was the first way to keep in touch with our followers. And like Ry said, it was crazy not even to drink and make music together! We’re really looking forward to the day when we can be out there again and play these new songs live.

What is the Philly music scene like these days? Are there any local artists that you particularly follow or would like to work with in the future?

Stef and Ryan: We are so lucky to live in such a music driven city with so many incredibly talented artists. There are so many great musicians out there that we can call friends in this town and it was really inspiring to see how they adjusted to the closure. Everyone is forced to get even more creative with their music marketing in order to stay afloat and it’s so cool to see how some of these bands took on a difficult situation and turned it over to work for them.

To name a few Philly bands and artists we love these days … First off – our hard working drummer Branden King just released a single, “Grand New (This Year),” Secret American, The End of America, Roger Harvey, 49 Burning condors, the Menzinger … to name just a few.

Talk a little about the new album “Dark Days | Dark nights. “How did it come together in terms of the writing and production process?

Stef and Ryan: This new record was so much fun. We recorded it at Cambridge Sound Studios in South Philly with Jim Salamone and Todd Mecaughey. We really took the time to do it, thought a lot about the production and recording process and really saw it as the best representation of us as a band at the time. We wrote and recorded these songs over a period of about two years. Some came together very quickly, like the first single from the album, “The Entertainment (Caught Me by Surprise)” because we literally thought we were done with the record, and then we realized we didn’t quite have the stellar first single that we had we were looking for. Ry nailed a riff down in no time, had the melody and the hook, and we literally wrote the lyrics until three in the morning before we went into the studio to record them (which is our method because I’m on some remember late nights finishing the texts before a session the next day!). Overall, we just knew that this album had to represent where we came from with our first, but we also had to dig a little deeper into our love of rock music. We wanted to keep developing our sound instead of potentially falling into something that could stagnate.

Talk a little about the quarantine style album coming out soon. When do you expect it to be released and how will your fans get it?

Stef and Ryan: We came up with the idea of ​​making an EP with some old and new songs, all recorded at home, and releasing them as a kind of quarantine style collection. It will be a purely acoustic EP with some new settings from the older songs and stripped down versions of the new ones. We can even throw a brand new unreleased song on it. We’ll be releasing it in the next few months and it will be available wherever you stream your music!

What are the best ways for your fans to keep up to date with what you’re doing?

Stef and Ryan: We’re on all social media platforms, but Instagram is the one we are most active on and the one where we get back to our fans. Our music is streamed everywhere and we also have a website where you can find everything in one place!

Check out The Black Coast online at:

theblackcoastmusic.com

instagram.com/theblackcoastmusic/

www.facebook.com/theblackcoast/

twitter.com/blackcoastband