Fitness startup Peloton's shares fall 7% in market debut via ReutersTV
) also went public earlier this year with high expectations, but their shares have tumbled since then, after investor concerns over their steep losses.
“Companies will start prioritizing what the market is telling them they’re worth in the secondary market,” said Andrea Lamari Walne, a Silicon Valley-based partner at merchant bank Manhattan Venture Partners.“Companies are taking a very hard look at secondary transactions as an indicator of the possible performance leading into whatever form of public company they’re going to be,” she added.
Peloton said it plans to use funds from the offering to run its operations, invest in marketing and acquire new technologies.
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