Full WSJ story & my Daily, Weekly, and Monthly charts here:
https://twitter.com/peregreine/status/1485592569987883009
Blackwells argues that the company is weaker today than before the pandemic, the people said. The firm places much of the blame on Mr. Foley, who is also chairman, and believes Peloton would be better off as part of a larger company, they said.
While the fund isn’t a household name, Blackwells has run successful activist campaigns before, and analysts have said Peloton could be vulnerable to an investor challenge or takeover, given its recent woes. Blackwells, founded in 2016 by Jason Aintabi, previously agitated at Monmouth Real Estate Investment Corp. , a real-estate investment trust that agreed to a roughly $4 billion sale, and at another REIT, Colony Capital Inc., and Colony Credit. The multiyear Colony campaign resulted in former CEO Tom Barrack ‘s stepping down and a revamp of the business.